$SHIB is trading lower near $0.00000719, down around 2.8% in the last 24 hours, and remains below key moving averages. The market is still cautious after recent security incidents, and the price is sitting near multi-month lows. However, technical signals like an oversold RSI and a slightly positive MACD histogram suggest selling pressure may be slowing in the short term.
On the positive side, on chain data shows more than 459 billion SHIB have been withdrawn from centralized exchanges in the past week. This often points to accumulation or long term holding, which can reduce near-term sell pressure. The team has also launched the “Shib Owes You” plan, using NFTs and ecosystem revenue to compensate hack victims, aiming to rebuild trust and stabilize confidence.
Looking ahead, SHIB needs to reclaim key EMA levels to confirm any recovery. If buyers step in, a short term bounce is possible from current levels. Still, risks remain high due to past security issues and the massive token supply. For now, SHIB is likely to move with market sentiment, with strong community belief supporting it, but a clear trend change will need higher volume and stronger follow through.
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