SHIB Price Drifts into 'Slow Death Sentence' as Bears Gain Control

The price of SHIB has been steadily declining in recent days, with the cryptocurrency experiencing a slow and suffocating drift downwards. According to Joerg Hiller's analysis, this is not a clean breakdown that can be traded on, but rather a momentum trap where bears are in control until the Relative Strength Index (RSI) reclaims 50.

The RSI has been stuck below 43 for some time now, and the price of SHIB is compressed below its Bollinger midpoint. The volume on Binance spot is also extremely low at just $1.8 million. This suggests that conviction is absent on both sides, but gravity is still working.

The analysis notes that speculative assets like SHIB are disproportionately vulnerable to liquidity withdrawal phases, and right now, they are trapped in one such environment. The broader macro backdrop for meme-layer tokens is also uninspiring, with no endogenous catalyst to reverse the drift.