Shiba Inu price analysis (Bearish) — 0.00 USDT (-0.49% 24h)

SHIB/USDT is showing significant weakness in the current market environment, trading at $0.00001008 with a sharp 49.4% decline over the past 24 hours. The token is now trading below both its 20-day SMA ($0.00001021) and 50-day SMA ($0.00001022), indicating sustained bearish momentum. The RSI reading of 36.7 suggests SHIB is approaching oversold territory but hasn’t yet reached extreme levels that would typically signal a reversal. Despite the price decline, trading volume remains substantial at over $16.2 million, indicating continued market participation. The high volatility reading of 2.65% suggests traders should expect continued price swings. For traders considering positions, current levels might offer accumulation opportunities for those with higher risk tolerance, but strict stop-losses below recent lows are essential. Given the technical breakdown, any recovery attempts will likely face resistance around the $0.00001020-$0.00001025 zone where the moving averages converge.