{"id":605411,"date":"2026-06-05T21:00:34","date_gmt":"2026-06-06T01:00:34","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=605411"},"modified":"2026-06-05T05:57:47","modified_gmt":"2026-06-05T09:57:47","slug":"shiba-inus-multi-year-low-tests-investor-conviction-traders-turn-bearish","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/shiba-inus-multi-year-low-tests-investor-conviction-traders-turn-bearish\/","title":{"rendered":"Shiba Inu’s multi\u2011year low tests investor conviction – Traders turn bearish"},"content":{"rendered":"

Shiba Inu [SHIB] extended its downside move for the fourth consecutive day. The 7.50% decline on the 5th of June triggered a breakdown below a major support level and pushed the memecoin beneath its September 2021 low.\u00a0<\/span><\/p>\n

At press time, SHIB declined 7.50% over the past 24 hours and is trading at $0.0000048. Despite the price drop, investors and traders appear to have shown strong interest in the asset, as its trading volume surged 12% during the same period to reach $146 million.\u00a0<\/span><\/p>\n

SHIB breaks September 2021 low<\/b><\/h2>\n

From a price action perspective, SHIB<\/a> remains firmly in a downtrend, and its daily chart suggests that the memecoin could continue its downward momentum in the coming days. <\/span><\/p>\n

The factors currently supporting this bearish outlook appear to be the broader market weakness and the breakdown below the key support levels of $0.0000053 and the September 2021 low at $0.0000051.<\/span><\/p>\n

\"Shiba<\/a>
Source: TradingView<\/figcaption><\/figure>\n

Based on the current price action, if SHIB closes a daily candle below the $0.0000051 level, it could experience further downside in the coming days. <\/span><\/p>\n

However, this bearish thesis would be invalidated if the memecoin’s price moves back above the $0.0000053 level.<\/span><\/p>\n

The Average Directional Index (ADX) suggests that SHIB has strong directional strength. Meanwhile, its price trading below the 200-day Exponential Moving Average (EMA) points to a sustained bearish trend, indicating that sellers remain firmly in control of the asset.\u00a0<\/span><\/p>\n

SHIB: Traders’ sentiment turns bearish\u00a0<\/b><\/h2>\n

Besides this price action, the derivative platform CoinGlass<\/a> suggests that intraday traders are strongly following the current bearish trend. <\/span><\/p>\n

Data shows that SHIB’s OI-Weighted Funding Rate has dropped to -0.0114%, indicating that short sellers are dominating the market and are willing to pay a premium to maintain their positions.\u00a0<\/span><\/p>\n

\"SHIB<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n

Meanwhile, $0.00000464 on the downside and $0.00000512 on the upside are the two major liquidation levels where traders appear to be overleveraged.<\/span><\/p>\n

According to SHIB’s exchange liquidation map, traders have built $196,000 worth of long-leveraged positions at the lower level and $613,000 worth of short-leveraged positions at the upper level, indicating that bears currently dominate the memecoin.<\/span><\/p>\n

\"SHIB<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n

At the same time, analytics platform Nansen<\/a> data shows a 302% decline in net holdings among the top 100 SHIB addresses over the past 30 days. <\/span><\/p>\n

This indicates that whales had already begun exiting their positions before the recent sell-off, which could be one of the factors behind SHIB’s strong downside move.\u00a0<\/span><\/p>\n

\"<\/a>
Source: Nansen<\/figcaption><\/figure>\n
\n

Final Summary<\/b><\/h2>\n
    \n
  • Shiba Inu lost a major support level and fell below its September 2021 low, with the chart signaling further downside risk.<\/span><\/em><\/li>\n
  • Traders were strongly following the bearish market trend by increasing short positions and offloading their SHIB holdings.<\/span><\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Indicators and market sentiment point to further pain ahead for SHIB.<\/p>\n","protected":false},"author":97,"featured_media":605433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[66,6388,4,20],"tags":[],"class_list":["post-605411","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-news","category-shiba-inu-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nShiba Inu's multi\u2011year low tests investor conviction - Traders turn bearish - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Shiba Inu [SHIB] crashed to a multi-year low after losing key support, with indicators and market sentiment pointing to further downside.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/shiba-inus-multi-year-low-tests-investor-conviction-traders-turn-bearish\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu's multi\u2011year low tests investor conviction - 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