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SHIB Price Forecast: Continued Pressure as Sellers Maintain Control
Shiba Inu (SHIB) continues to struggle under bearish pressure, with the price closing in the red for five consecutive weeks. Despite attempts to break out, bulls have failed to gain traction, and the trend remains downward.
Currently, the key support level sits at $0.0000107, a zone that has historically halted further declines. A retest of this support appears likely unless buyers can step in and shift momentum.
The weekly MACD remains flat, with a stagnant histogram, offering little clarity on the near-term direction. While the price drifts sideways, some traders hope this consolidation phase could lay the groundwork for a future rebound.
However, a more troubling sign is the consistent decline in trading volume, especially since March 2024. The lower highs in volume suggest fading investor interest and weakening conviction—factors that reduce the likelihood of an imminent reversal.
Outlook:
Unless bulls step up meaningfully, SHIB is likely headed for another test of support. Momentum indicators and waning volume point to a cautious outlook for the week ahead.
