Despite recent progress in its ecosystem, Shiba Inu (SHIB) faces potential price declines. While Shibarium’s TVL has grown significantly this month, reaching $1.86 million from $734k, technical indicators suggest a bearish market trend. The SHIB token currently trades around $0.00000971. 284.82 trillion tokens are on exchanges, a decrease from July’s 302 trillion, indicating confidence in the long-term prospects of the token. However, large whales hold a considerable 105.9 billion SHIB tokens, suggesting potential for further growth. Technical analysis reveals that the SHIB price remains near key support levels such as $0.0000082, which may attract sellers. This downward trend is highlighted by bearish indicators on the 50-day and 100-day EMA, along with the token’s recent fall below important levels marked by the Murrey Math Lines. It remains unclear what direction SHIB will take in the coming days.