Shiba Inu, a popular meme token, has failed to maintain its position above the 100 Exponential Moving Average (EMA) support level, sparking concerns among investors. The asset's price opened below the average in the recent trading session, indicating a potential negative trend. The next support level is nearby, but it is situated beneath a key resistance level, making it challenging for the price to rebound.

The Shiba Inu chart displays a bearish trend as it struggles to stabilize above the 100 EMA. If the selling pressure intensifies, the price may approach the next major support at $0.000019, which could be a critical level for SHIB. This area may provide a base for a rebound or, if breached, could lead to further declines. Technical indicators like the Relative Strength Index (RSI) are showing bearish signals, with the RSI approaching the oversold area, indicating persistent selling pressure.

However, the oversold situation could also present an opportunity for a brief rebound if buyers take advantage of the lower prices. The volume profile shows a decrease in trading activity compared to previous sessions, indicating a decrease in buying interest. This decline in volume supports a more pessimistic outlook for the meme token, suggesting that investors are distancing themselves from SHIB.

Despite the bearish trend, if SHIB can maintain its current level and show signs of strength, a rebound may be imminent, indicating that the worst of the selling may have passed. Investors are closely monitoring the situation, hoping for a turnaround in the token's fortunes.

In conclusion, Shiba Inu's price slip below the 100 EMA support level has raised concerns among investors, and the token's future performance remains uncertain. While technical indicators suggest a bearish trend, a potential rebound cannot be ruled out if buyers take advantage of the lower prices. The situation demands close monitoring, and investors are eagerly awaiting the token's next move.