An analyst projects an additional 20% decline for Shiba Inu, arguing that it remains in a descending channel with no breakout signals.Shiba Inu (SHIB) continues to experience market volatility, reflecting a fluctuating price trend over the past day. SHIB is trading around $0.0000122, with a marginal 24-hour decline of 0.1%. The token has struggled to gain momentum recently. It declined 9.2% in the past seven days, 16.8% over 14 days, and 25.4% in the last 30 days. This sustained downward trajectory highlights continued selling pressure. While some are anticipating a rebound, an analyst is predicting further decline.Shiba Inu Could Dip Another 20%A 12-hour SHIB/USDT chart from TradingView presents a downward trend, reinforced by technical indicators. The chart shows that Shiba Inu is within a descending channel characterized by lower highs and lower lows.SHIB/USDT 12-hour Price ChartShiba Inu 12-hour Price ChartAccording to the analyst, market signals do not suggest a breakout, leaving SHIB vulnerable to further declines. The analyst observes a lack of momentum and expects a continued downturn unless strong reversal signals emerge. A key target in this downtrend is $0.0000090, a critical monthly support level that could determine SHIBs near-term price direction. This represents a 20% fall from the time of the analysis.Meanwhile, network data and on-chain activity reinforce the bearish outlook. Fewer investors are engaging with SHIB, further reducing demand and liquidity.Declining Network Activity and Whale InflowsOn-chain metrics from IntoTheBlock reveal a decline in ecosystem engagement. The 7-day new addresses (NA) dropped by 8.23%, indicating fewer new investors entering the SHIB market. Additionally, the 7-day active addresses (AA) fell by 11.95%, suggesting reduced transactional activity.Shiba Inu Daily Active AddressesShiba Inu Daily Active AddressesThe 7-day Zero Balance Addresses (ZBA) Change showed a significant 25.34% drop, indicating more wallets are becoming inactive or being drained. This suggests declining investor interest and weaker overall market participation.The Large Holders Inflow chart further reflects a reduced presence of institutional and whale investors. The 7-day whale inflow dropped 64.05%, while the 30-day inflow saw an 88.65% decline. Shiba Inu Large Holders InflowShiba Inu Large Holders InflowThe 90-day inflow decrease of 87.12% further indicates an extended period of large-scale investor exits, contributing to SHIBs ongoing bearish trend.
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