Shiba Inu (SHIB) has experienced a significant drop of over 6% in the past 24 hours, following a string of bearish trends. Increasing selling activity is being driven by heavy liquidations on derivatives markets, pushing SHIB below all major moving averages and further strengthening the downtrend. The token’s price struggles to recover as trading volume surges, highlighting a distribution-heavy movement rather than a clear accumulation surge. 37 on the RSI indicates continued seller dominance while buyers struggle to regain control. The current situation is characterized by a declining open interest and increasing selling pressure, fueling concerns about further losses. As SHIB remains trapped between diverging trendlines, traders are left contemplating whether this downward trend is merely a short-term correction or the beginning of a more significant decline.