$SHIB
🚨Shiba Inu (SHIB) Technical Picture Looks Grim🚨
The charts don't lie - SHIB is in a nasty downtrend. All the major moving averages (50, 100, and 200-day) are pointing down, which is textbook bearish action. The RSI has dropped below 40, showing sellers are in control with no sign of buyers stepping in.
What's even worse is the volume. It's been steadily dropping, which usually means people are losing interest and bears are taking over. Every time SHIB tries to bounce, it gets smacked down at those moving averages. The recent break below $0.00001234 support was the nail in the coffin for any short-term bullish hopes.