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Shiba Inu in trouble
Recent analysis suggests that investor interest in Shiba Inu (SHIB) has declined significantly. SHIB's key momentum indicator is showing a strong downtrend with values below its center line.
Notably, SHIB has a Relative Strength Index (RSI) of 38.27 and a Money Flow Index (MFI) of 35.21. These indicators indicate significant selling pressure as both are in lower ranges, indicating potential oversold conditions. Typically, RSI and MFI values above 70 indicate overbought, while values below 30 indicate oversold, indicating a possible market correction.
SHIB's Directional Movement Index (DMI) further confirms this bearish trend, showing the negative Directional Index (red) above the positive Directional Index (green), indicating stronger selling activity than buying activity. This setup suggests that bears continue to control the market and SHIB demand is declining.