Shiba Inu (SHIB) has recently not been performing well, with little presence amid the ups and downs. Let's analyze the issues from several perspectives.

On the technical side, SHIB has been under the pressure of the 50-day and 100-day moving averages. You can think of these two lines as the "enemies of the bulls"—the price tends to get knocked down whenever it approaches them. Although there are occasional sudden surges that look fierce, these rises are often fleeting, and the price quickly falls back. What does this indicate? It’s not large institutional buying, but short-term traders closing positions or engaging in swing trading during rebounds, lacking sustained buying power.

Regarding the RSI indicator, although it has climbed out of the oversold zone and looks somewhat hopeful, this doesn't mean much. In a truly strong market, RSI should repeatedly push into high levels, but SHIB is currently just wandering in the middle range, unwilling to surge upward at any time. In simple terms, it lacks momentum.

Volume is also not encouraging. Every increase in volume is accompanied by a significant number of sell orders, a typical sign of "someone using the rebound to offload." The market sentiment is that people are selling into the rally, not buying aggressively. This kind of environment doesn't bode well for a sustained upward trend.

On-chain data shows that the SHIB balance on exchanges is increasing. Major holders don't seem to plan to hold long-term; instead, they are stacking coins on exchanges, ready to sell at any moment. Without large capital locking in positions, it’s unlikely that the price will break out into a stable upward channel.

Ultimately, SHIB's current predicament isn't about the rebound itself but whether the rebound can be sustained. There may be short-term opportunities, but until we see continuous capital inflows and structural improvements, caution is advised, and optimism should be restrained.