Peter Smith
Shiba Inu (SHIB) is getting absolutely crushed right now, down over half its value in the past six months and showing no signs of letting up as it bounces around between $0.00001192 and $0.00001333.
Things aren't looking great for SHIB holders these days. The popular meme coin just can't catch a break, dropping 2.08% this past week alone. But that's nothing compared to the bigger picture - we're talking about a brutal 28.07% nosedive over the last month, and if you zoom out to six months, it's even worse. SHIB has lost a whopping 57.20% of its value, which is pretty painful for anyone who's been holding onto their tokens hoping for better days.
SHIB's (Shiba Inu) Charts Are Screaming "Oversold" Right Now
Here's where things get interesting from a technical standpoint. SHIB's RSI is sitting at 31.20, which means it's getting pretty close to that magic 30 level where traders start thinking "maybe this thing is oversold." The Stochastic indicator is telling a similar story at 24.01 - basically saying the same thing about potential oversold conditions.
But here's the kicker - the MACD is still negative at -0.0000003045, so the bears are still running the show for now. When you look at the moving averages, it's not exactly encouraging either. The 10-day is hanging out at $0.00001192, while the 100-day is up at $0.00001281. That gap between them? Yeah, that's not what you want to see if you're bullish on SHIB.
Where Shiba Inu (SHIB) Could Go From Here
So what's next for this meme coin? Well, if SHIB wants to stage any kind of comeback, it's going to have to punch through $0.00001416 first. That's the nearest resistance level, and it's probably going to put up a fight. If somehow SHIB manages to get past that, then we're looking at $0.00001571 as the next big wall to climb.
On the flip side, things could get really ugly if SHIB can't hold $0.00001106. That's the key support level everyone's watching right now. If that breaks, we're looking at a potential drop to $0.000009516, and trust me, nobody wants to see that happen. That lower support level is basically the last line of defense before things could get really messy for SHIB investors.
Peter Smith
