SHIB Rebounds After Reaching Oversold Levels, Investors Hopeful of Renewed Growth

Following a significant drop driven by selling pressure that saw SHIB approach new multi-month lows, the token experienced a rebound. Traders observed this shift on the RSI indicator as a signal of exhaustion among sellers, creating an opportunity for short-term recovery attempts. Although SHIB remains below its 50, 100 and 200-day moving averages, consistent trading volume during the decline suggests a controlled unwind rather than panic selling.