The Shiba Inu has been on a tear lately, but the rebound may be short-livedThe Shiba Inu is showing worrying signs on the price chart as it appears to be gearing up for a potential collapse. After experiencing a staggering loss of over 30% of value on the SHIB/USDT chart, the memetic cryptocurrency is inching closer to the start of what some investors fear is a long-term correction phase.SHIB's rapid growth phase appears to have hit a roadblock, and this is reflected in its recent price action. The asset's support levels are currently being severely tested, with previous "comfort zones" failing to provide the strength of the early rally.

SHIB's trading volume has dropped significantly, indicating waning investor interest or perhaps the beginning of selling by investors looking to cut their losses. Trading patterns suggest that bearish sentiment is taking over, and if this continues, SHIB could lose most of the gains it accumulated during its meteoric rise.

Looking ahead, SHIB's near-term outlook depends on the asset's ability to maintain its support levels. If the price falls to 50% of the recent peak rise, this could signal the end of the rally and could trigger a bear market in SHIB. From a bullish perspective, if SHIB can consolidate and hold its current price, this could serve as a springboard for future gains, especially if broader market sentiment improves or interest in meme coins revives.

Conversely, a bearish scenario would require a break below current support, which could intensify selling pressure and lead to further losses. Given the speculative nature of SHIB and the power of market sentiment to drive its value, a collapse may be imminent if current trends continue. #ShibaInu

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