Shiba Inu $SHIB faces mounting challenges as its trading volume drops to concerning lows, signaling a potential loss of confidence among traders. This declining volume not only raises liquidity concerns but also threatens to stall any upward momentum for the token. Currently trading near $0.00002530, SHIB is forming a bearish pattern as market participants hesitate to follow through on recent price action.
Despite the price holding above key moving averages, including the 50 and 200 EMAs, volume indicators tell a different story, reflecting a steady decline. This reduction in trading activity leaves SHIB vulnerable to sudden price swings due to diminished liquidity.
From a technical perspective, SHIB is precariously positioned between critical support levels at $0.00002350 and $0.00002100. A break below these thresholds could trigger further declines, amplifying selling pressure. On the upside, the token must clear resistance at $0.00002750 with strong volume backing the move to reignite bullish momentum.
