Shiba Inu price analysis (Bearish) — 0.00 USDT (-0.10% 24h)

SHIB is showing significant technical weakness as it trades at $0.00000992, down 10.1% over the past 24 hours. The extremely oversold RSI reading of 18.67 suggests the meme token has been severely punished in recent trading sessions. Currently trading below both its 20-day SMA ($0.00001016) and 50-day SMA ($0.00001014), SHIB faces strong resistance overhead. While the elevated volatility of 3.7% indicates continued price swings, the substantial $13.48 million in 24-hour volume shows trader interest remains. For short-term traders, this oversold condition could present a potential bounce opportunity with tight stops below recent lows. However, the breach of key moving averages suggests any recovery may face selling pressure. Long-term investors should wait for confirmation of a bottom formation before adding positions, as the technical picture remains fragile despite the extreme oversold readings.