Woofun AI reports that SHIB continues to face heavy selling pressure, with recent recovery attempts failing to reclaim key resistance levels. The token has maintained a clear bearish structure since late 2025, characterized by lower highs and lower lows. Technical analysis indicates that the 100-period moving average and former support zones around $0.0000046 are now acting as resistance, rejecting bullish momentum.

Despite the weak price action, blockchain data reveals that large investors are accumulating SHIB during market weakness. Exchange netflows turned negative over the past day, indicating more tokens are leaving exchanges for private wallets.

However, unless buyers regain strength and break above current resistance, SHIB could slide toward the next major support level near $0.0000010.