I just looked at the Shiba Inu coin chart, and the bears still hold control. The price is at the $0.000005323 zone, down 3.9% in a day. Futures volume $201 million is much higher than spot at $37.4 million, indicating that derivatives traders are dominant here. SHIB open interest is around $60.8 million with a market cap of $3.15 billion.

What’s interesting is that the Shiba Inu coin funding rate remains negative, meaning short traders are paying to maintain their positions. The Aroon Oscillator is at -71, which is very bearish. The Awesome Oscillator is also still below zero with a red histogram. So despite a slight bounce attempt, the indicators haven't turned bullish.

Shib has dropped 11% in a week, 21% in a month, and 37% in 3 months. The nearest support is at $0.00000508, with resistance at $0.00000726. Unless buyers can rebound at that resistance level, Shiba Inu coin still seems vulnerable to further decline. Sentiment remains very defensive in the derivatives market.