2. Why could it be a "slow rug pull"?

A slow rug pull is a scheme in which the developers or creators of a project gradually reduce their stake (or liquidity) in an asset, rather than pulling out abruptly. This type of strategy can be difficult to identify initially, but there are signs that point to this possibility in the case of SHIB:

Lack of real utility: SHIB is still considered a "memecoin", with a limited value proposition. Although initiatives like Shibarium (a layer 2 solution) and token burns have been launched to reduce supply, these measures have not generated significant utility. Without a solid use case, the value of SHIB relies solely on speculative interest.

Token burns as a distraction: Token burns are often presented as a way to increase value by reducing supply. However, in the case of SHIB, these burns have had an insignificant impact on its price. This can be interpreted as a tactic to maintain market interest while developers or large investors sell their stakes.

Questionable decentralization: Although SHIB is presented as a decentralized token, a significant portion of its supply is held by a few wallets. This poses the risk that these large players will gradually liquidate their assets, draining market interest and pushing the price down.

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3. Technical indicators supporting the decline

In addition to the pattern of lower highs, other technical indicators reinforce the idea of a possible prolonged decline:

MACD and weak momentum: Recurring bearish crossovers in the MACD reflect persistent negative momentum, even during rallies.

RSI at moderate levels: Although the RSI is not oversold, it remains at intermediate levels, suggesting a lack of clear direction. This reflects a weak market, with no significant buyers to drive the price up.