Shiba Inu Struggles to Find Footing as Bears Maintain Control

Shiba Inu ($SHIB) is struggling to establish a stable base after its prolonged decline. The $SHIB/USD daily chart shows price trading near $0.00000419, slightly above the recent low of $0.00000404.

The sellers have slowed their momentum, but buyers still haven't gained enough strength to trigger a meaningful recovery.

The 20-day and 50-day exponential moving averages currently act as immediate resistance levels at $0.00000425 and $0.00000454 respectively.

The open interest has declined significantly from $500 million to approximately $32.96 million, indicating weaker trader confidence and reduced activity in the futures market.