#USStablecoinBill

SHIB bull Shows Weakness. Santiment’s Age Consumed index projects a bearish outlook for Shiba Inu. The spikes in this index suggest dormant tokens (tokens stored in wallets for a long time) are in motion, and it can be used to spot short-term local tops or bottoms.

In the case of SHIB, history shows that the spikes were followed by a fall in Shiba Inu’s price as holders moved their tokens from wallets to exchanges, thereby increasing the selling pressure. The most recent uptick on Monday, the highest spike since the end of March, also forecasted that SHIB is ready for a downtrend.

The technical outlook suggests a correction, targeting SHIB $0.000011.

Shiba Inu price faced rejection around the descending trendline (drawn by joining multiple highs since mid-December) on April 26 and declined 11% until Sunday. This trendline roughly coincides with the 100-day EMA at $0.000014, making it a key resistance zone. At the time of writing on Monday, it hovers at around $0.000012.

If SHIB continues its pullback, it could extend the correction to retest its April 16 low of $0.000011.

The RSI on the daily chart reads 48, below its neutral level of 50, indicating bearish momentum. Moreover, the MACD indicator also showed a bearish crossover on Sunday, giving a sell signal and suggesting a downward trend ahead.

Conversely, if SHIB breaks and closes above its descending trendline, it could extend its gains toward its next daily resistance at $0.000016.