Shiba Inu declined by 4.81% in the past 24 hours, bringing its monthly performance to +5.1%. The bearish funding rate and declining speculative interest confirm significant selling pressure. A 39.8% rally at the end of July, from $0.0000047 to $0.00000583, failed to reverse the underlying downtrend. If the $0.0000046 support level is breached, SHIB could drop to $0.0000034, representing a 26.6% decline from current prices. Daily technical indicators confirm that bears have the upper hand in the short term.
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