Shiba Inu is coming near an essential price area, as bearish pressure continues to dominate its daily chart. Trading at approximately $0.00000480 on October 26, the meme coin is near its 2026 low, raising concerns that another wave of selling could push SHIB into fresh yearly lows.
The technical picture offers little encouragement for bulls, with numerous signals suggesting that sellers remain firmly in control.
SHIB Price Faces Mounting Bearish Pressure
According to the daily SHIB/USDT chart on Binance, Shiba Inu has experienced a sustained decline since its October recovery attempt failed near $0.00000620. The subsequent selloff drove SHIB under multiple key moving averages, including the short-term and medium-term trend indicators clustered between $0.00000520 and $0.00000540.
More importantly, the cryptocurrency remains well under its long-term moving average, currently hovering around $0.00000555. This reinforces the wider bearish market structure and suggests that any short-term recovery could encounter significant resistance. SHIB has also slipped below the psychologically important $0.00000500 level, which previously acted as a significant trading zone.
RSI Signals Weakening Momentum
The Relative Strength Index (RSI) offers another warning sign. Currently hovering near 35, the momentum indicator reflects persistent selling pressure without yet reaching deeply oversold territory.
This distinction matters because SHIB could experience further downside before technical conditions become sufficiently stretched to attract aggressive dip buyers. Trading volume has also remained distinctly subdued throughout the latest decline, suggesting limited buying interest at current prices.
Could SHIB Revisit Its Yearly Low?
The immediate downside target sits around $0.00000450, a support region tested during previous market corrections. A decisive breakdown under this level could expose the $0.00000410–$0.00000420 region, where SHIB established a significant bottom earlier in the chart period. Conversely, bulls must reclaim $0.00000500 and eventually break above the $0.00000530 resistance zone to weaken the bearish outlook.
Until that happens, Shiba Inu remains vulnerable to additional losses. With momentum deteriorating and major moving averages placed overhead, a retest of the year's lows is becoming an increasingly realistic scenario. Whether SHIB establishes a lasting bottom or breaks lower will largely depend on buyers' ability to defend the remaining support zones.
