The price of Shiba Inu has been in a downward trend and has lost 2% of its value in the last 24 hours. The market for SHIB appears oversold, but there is still a possibility of a price recovery if buyers step in. There are bullish signals suggesting a potential breakout, but for SHIB to see positive momentum, a shift towards a more optimistic buying sentiment is necessary. At the time of writing, SHIB was priced at $0.000008, trading near its resistance level of $0.000009.