Shiba Inu is currently hovering close to a crucial trendline support level putting, it on the verge of a major breakdown. Any decline below this trendline could be problematic for the price of SHIB, as it has been crucial to sustaining the asset's growth trajectory. Market sentiment may further deteriorate if there is a steep drop below this trendline. There is a bright side, though.

The 200 EMA is a potent secondary support level that is situated just below the trendline. This could keep SHIB from experiencing a complete price collapse. Shiba Inu is among the many assets for which the 200 EMA has historically shown itself to be a dependable support level. The risk of a significant decline is somewhat reduced as long as the asset is able to maintain its position above this crucial threshold.

Shiba Inu has been generally rising, but the momentum has slowed, and these important support levels are now the only thing being watched. Before a possible recovery, there might be some consolidation if the price drops below the trendline but stays above the 200 EMA. However, Shiba Inu may experience a longer decline if both of these thresholds are crossed.