Is a Shiba Inu Recovery Possible? Technical Signals Suggest Continued Decline

Shiba Inu (SHIB) has experienced a sharp decline, reaching its lowest point since January 2024. Trading near $0.0000091 after a 5.25% drop in the past 24 hours, SHIB is showing signs of persistent bearish pressure. Technical indicators highlight a weakening trend with sellers dominating below key moving averages. The next significant support level sits at $0.0000075, with any break below this zone potentially triggering deeper losses for SHIB. Experts are questioning if the token can stage a comeback. Read on to explore key factors driving SHIB’s decline and the potential for a recovery rally.