Shiba Inu price analysis (Bearish) — 0.00 USDT (-6.77% 24h)

SHIB is showing significant weakness with a 6.77% decline over 24 hours, trading at $0.00001212. The RSI reading of 7.69 indicates extreme oversold conditions, suggesting potential for a short-term bounce. However, price remains below both the 20-day SMA ($0.00001265) and 50-day SMA ($0.00001283), confirming the bearish trend structure. Volume remains elevated at $36.4M, indicating continued selling pressure. Given the extreme oversold RSI, traders might consider scaling into long positions with tight stops below $0.00001150, targeting a retest of the 20-day SMA. Risk management is crucial – this remains a high-risk trade given SHIB’s inherent volatility of 2.49%. Wait for RSI to recover above 30 before adding to positions.