Shiba Inu (SHIB) is grappling with a severe technical and on-chain downturn following a brief and unconvincing price rally. The cryptocurrency recently experienced what analysts term a "dead cat bounce," a short-lived surge within a dominant downtrend, which has now fully faded. The asset has failed to break above key resistance levels, including the 20-day Exponential Moving Average (EMA), and faces downward-sloping 50-day, 100-day, and 200-day moving averages, confirming a prolonged bearish structure.
A critical on-chain development has intensified bearish warnings. The 7-day mean exchange inflow metric for SHIB has skyrocketed by an astonishing +6,894.01%, marking one of its largest spikes in months. This surge indicates a significant increase in tokens being moved to exchanges, typically a precursor to selling. Analysts note that this inflow spike is not matched by a corresponding increase in outflows, suggesting rising sell-side liquidity rather than accumulation. Exchange reserves are climbing, while active addresses and spot Cumulative Volume Delta (CVD) remain weak.
The price action corroborates the grim on-chain data. SHIB continues to trade below all major moving averages, with every attempt at a price bounce being "promptly sold into." The chart exhibits a pattern of lower highs and lower lows, a classic sign of a bearish channel. Market sentiment is weak, underscored by low trading volume and a lack of bullish divergence in the Relative Strength Index (RSI).
Experts warn that without a fundamental shift, SHIB is likely to retest recent lows. The next potential price targets are seen in the $0.00075 to $0.00070 range if the selling pressure materializes. A reversal would require a sustained break above the 50-day EMA and a persistent decline in exchange reserves, neither of which are currently in evidence. The combination of technical rejection and ominous on-chain flows paints a picture of continued downward pressure for the meme coin.
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