Shiba Inu ( SHIB ) has indeed had a bit of an "upstream" awkwardness in recent performance. It has experienced several rounds of failed rebounds between 2024 and 2025, and the price has slid back to the levels of 2023—equivalent to giving back all the gains of the past year. This phenomenon itself is a warning sign, with a clear signal: market enthusiasm is declining.

From the K-line trend, SHIB has always been trapped in a long-term downward channel. The price continues to drop, and the rebound strength is getting weaker and weaker; as soon as there is a glimmer of hope, it is immediately crushed. Why? Because there are far more investors in the market eager to "cut losses" than there are new buyers entering. Once there is a rebound space, selling pressure will follow.

Trading volume speaks more truth. During the upward phase, if the trading volume does not keep up, but is unusually active during a downturn - this indicates that capital is quietly withdrawing rather than secretly accumulating. Above this price level, there is a large amount of trapped chips; as soon as the price rebounds to a certain height, the release of trapped positions will rush out, forming a lasting pressure.

Another reality is that the fundamentals are weak. Long-term trends can no longer be driven by a few tweets or a hot news story. From a technical indicator perspective, it is not an environment of panic selling; rather, it is a slow weakening. Such a market often tests patience the most and makes reversals the hardest.

Overall, Shiba Inu now seems to be gradually losing its momentum, rather than building up for the next cycle. To truly reverse the downward trend, there must be sustained new demand driving it; otherwise, any rebound is likely to be short-lived.