Shiba Inu price analysis (Bearish) — 0.00 USDT (-2.70% 24h)

SHIB is showing significant technical weakness as the price hovers around $0.00001046, down 2.7% over the past 24 hours. The extremely oversold RSI reading of 16.67 suggests capitulation may be nearing, though this doesn’t guarantee an immediate reversal. Price currently trades below both the 20-day SMA ($0.00001095) and 50-day SMA ($0.00001070), indicating sustained bearish momentum. Trading volume remains substantial at $22 million, suggesting continued market interest despite the downturn. The high volatility reading of 7.8% indicates significant price swings are likely. For traders, this presents a high-risk environment. Conservative traders should wait for RSI to recover above 30 and price to reclaim the 20-day SMA before considering long positions. Aggressive traders might scale into small positions here with tight stops below recent lows, targeting a mean reversion bounce toward the 20-day SMA. Risk management is crucial given the elevated volatility.