Shiba Inu remains under heavy selling pressure as the coin trades near $0.0000041, failing to stage a sustainable rebound through July. Since the start of 2026, SHIB has consistently posted lower highs and lower lows, signifying a prolonged downtrend for the popular meme coin. The loss of a rising channel that had previously supported price action between March and May triggered a sharp decline for SHIB. After breaching the channel’s lower edge, the token has yet to reclaim major moving averages. The 50-day exponential moving average (EMA) stands above $0.0000045, while the 100-day and 200-day averages are positioned even higher, highlighting the persistent bearish structure.