Shiba Inu experienced strong short-term bullish momentum on Friday, August 14th, with open interest rising from $46.54 million to $52.79 million, a 13.4% increase. The price also gained 4.03%, but this rally obscures a broader downtrend: the memecoin has fallen 21.4% in three weeks since peaking at $0.00000583. Technical indicators, particularly the CMF remaining below -0.05 for most of August, signal considerable capital outflows and a lack of sustained demand needed to break through the overhead supply zone. The article concludes that this bounce likely represents a retest of the resistance zone and presents a selling opportunity rather than a bullish trend reversal.
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