The Shiba Inu has dropped below the 50 EMA mark, which is considered a key support level for the asset. Unfortunately, with prices below that critical level, some possibilities for the Shiba Inu have been closed. Buyers need to push SHIB above the ceiling so that SHIB is considered a contender for growth.

It is a strong bearish sign when the price falls below the 50 EMA. The 50 EMA frequently acts as a strong support or resistance level. Breaking it shows that selling pressure is greater than buying. The larger number of sell-offs seen during declines is indicative of this change in sentiment.

The much lower 200 EMA is the next support to watch if SHIB cannot reclaim this level. Additionally, technical indicators suggest there could be more downside. A bearish change is indicated by the RSI moving below 50. Additionally, the MACD has shown a bearish crossover, which often signals the start of more price declines. .

All these signs suggest that the bears are in charge and the bulls are facing a tough task ahead. The overall market sentiment is getting worse, especially with price action like this.