Recently looked at SHIB's trend, and it still feels a bit dull this wave. Shiba Inu has been fluctuating around $0.000005 in the past few days, with a 24-hour increase of only 0.89%, but over a longer period, it has fallen 2.16% in 7 days. This feeling is like repeatedly testing the bottom but lacking strength.

I checked the technical indicators, and SHIB still shows a clear downward structure. Every rebound to around $0.0000057 gets pushed down again, with support at about $0.00000508. The Aroon indicator shows that the bears still have the advantage, and momentum indicators also show no obvious signs of strength reversal, indicating that buyers are not willing to step in for now.

Interestingly, the funding rate has been negative, meaning shorts are paying to hold their positions, yet the price continues to decline. The contract trading volume of $201 million far exceeds the spot volume of $37.4 million, indicating that everyone is using leverage, which makes the risk quite high. SHIB's current market cap is $3.65 billion. Unless buyers can break above recent highs, the outlook remains bearish.