Shiba Inu (SHIB) appears to be weakening as the cryptocurrency is finding it difficult to move higher. According to analysts, Shiba Inu may test a new low if the support level is not held. Indicators suggest the cryptocurrency is facing more selling pressure.
At the time of writing, SHIB is trading at $0.000005974 according to CoinMarketCap, with a 24-hour trading volume of $128.02 million and a market capitalization of $3.52 billion. Over the last 24 hours, the token has declined by 0.55%, reflecting ongoing selling pressure in the market.
As of February 10, 2026, crypto analyst CryptoPulse pointed out that SHIB could be heading towards a new all-time low (ATL) as its price action indicates bearish momentum.
From the weekly chart, we can observe that the price closed in a red candle below its falling wedge pattern. The price even dropped to its previous ATL before rebounding.
According to CryptoPulse, if Shiba Inu fails to reclaim the falling wedge support this week, then investors can expect further losses. The price target is set at $0.00000510. If Shiba Inu slips below this price point, then it could establish a new ATL.
From a technical analysis perspective, it can be seen that the overall trend of SHIB’s weekly momentum remains under pressure. As of now, the Relative Strength Index (RSI) stands at 31.9, which is far lower than the neutral level of 50.
At the same time, the RSI has also dropped below its signal line, which currently stands at 35.7. As can be seen, the price action currently remains below the Moving Average (MA) Ribbon, which consists of the 20, 50, 100, and 200 SMAs, all of which are currently near the $0.00001 mark.
Another indicator that also supports this view is the Moving Average Convergence Divergence (MACD) indicator. The MACD and signal lines are both below zero, and a slightly red histogram indicates that selling is slowing down but not stopping yet. There is no bullish trigger for SHIB yet, so the market is being cautious about its future direction.
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Investors are also likely to pay close attention to SHIB in the coming days. In case SHIB does not sustain its wedge support, there are likely to be lower prices in the future, which could result in a new all-time low.
However, any small gains could also present a good opportunity for short-term investors to buy. Investors are advised to pay attention to SHIB’s levels of support.
SHIB is still below major resistance levels and is in a declining trend according to technical indicators. Investors should be careful and observe the price in relation to its support levels and momentum indicators to establish whether the price is likely to recover or fall further.
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