SHIB Faces Downward Pressure as Bears Test Key Support Levels

Shiba Inu (SHIB) has experienced a 4.5% price drop over the past 24 hours, as bearish momentum tests lower support levels. The meme coin is currently hovering near Bollinger Band support, with its Relative Strength Index (RSI) at 41.70—approaching oversold territory but not yet indicating a definitive reversal. Binance spot markets recorded $21.4 million in SHIB trading volume, suggesting measured selling activity without panic-driven liquidation. Despite the downward pressure, there are no fundamental catalysts driving the current price action, leaving technical factors to dominate trading behavior. As of July 31, 2025, SHIB remains in a cautious phase, with traders closely watching for potential signals of a trend reversal or further declines.

SHIB Price Drops 4.5% as Bears Test Lower Support Levels

Shiba Inu (SHIB) faces downward pressure, declining 4.5% in the past 24 hours as technical factors dominate trading activity. The meme coin hovers NEAR Bollinger Band support with its RSI at 41.70—flirting with oversold territory but not yet signaling a clear reversal.

Binance spot markets recorded $21.4 million in SHIB volume, reflecting measured selling without panic-driven liquidation. With no fundamental catalysts driving action, traders appear focused on chart patterns and broader crypto market sentiment.

The neutral RSI reading leaves room for interpretation. Some may view current levels as a potential accumulation zone, while others see bearish continuation risks given the absence of bullish triggers.

Shiba Inu Coin Can End July On A High Note – Key Developments To Note

Shiba Inu Coin (SHIB) witnessed a staggering 16,700% surge in burn rate on July 29, igniting speculation of an impending price rally. The memecoin's expansion onto Coinbase's Base network has further fueled bullish sentiment.

Over 602 million SHIB tokens were permanently removed from circulation in just 48 hours, according to Shibburn data. This aggressive deflationary strategy aims to enhance scarcity and long-term value. Community-driven burns now total 410.75 trillion SHIB, with 584.6 trillion remaining in circulation.

The project's integration with Base network marks a strategic expansion, coinciding with intensified burning activity. Such developments position SHIB for potential volatility as market participants assess the combined impact of reduced supply and increased accessibility.

Shiba Inu Eyes Monthly Gain Despite Recent Price Decline

Shiba Inu (SHIB), the second-largest memecoin by market capitalization, remains on track for a double-digit monthly gain despite an 8% weekly price drop. The token fell to $0.00001263 early today, its lowest level since July 10, as bearish sentiment swept through the memecoin sector. The CoinDesk Memecoin Index (CDMEME) reflects this downturn with a 10% weekly decline.

Market dynamics reveal a shift toward utility-driven projects, with SHIB's aggressive token burn program failing to ignite sustained bullish momentum. Over 600 million tokens were destroyed in a single session—a 16,710% surge in burn rate—yet competitors like BONK and Remittix continue capturing trader interest. Technical analysis shows resistance firming at $0.000013184 after a 2.28% intraday decline, with support emerging near $0.000012663 backed by 1.25 trillion tokens in volume.

Shiba Inu Price Drops Amid $100M Open Interest Exodus: What’s Next?

Shiba Inu’s price fell nearly 9% this week as open interest—a key metric tracking active derivatives positions—plummeted by $100 million. The memecoin’s decline reflects broader cooling sentiment in the sector, with traders questioning whether token burns alone can sustain momentum.

Shibarium, the layer-2 network designed to bolster SHIB’s utility, saw its total value locked (TVL) sink to $1.76 million, a 70% drop from late 2023. The sharp withdrawal of open interest, from $328 million to $206 million in days, signals one of the most aggressive pullbacks since mid-July.

Market preferences appear to be shifting toward utility-driven projects, leaving memecoins like SHIB at a crossroads. Without stronger fundamentals, the token’s reliance on burns and speculative trading may no longer be enough to attract sustained capital.