Recently, Shiba Inu Coin (SHIB) suddenly surged on Friday, rising over 6% in a single day, rebounding from around $0.0000070, reigniting hope for many investors. However, the good times did not last long, as the market quickly reverted to its original state. After SHIB climbed to $0.00000766, it began to retreat, currently falling back to around $0.00000714, indicating that this surge is not stable and resembles a brief rebound rather than a trend reversal.

From a technical perspective, the highly anticipated 'golden cross' signal did not play out. Simply put, the short-term moving average once crossed above the long-term moving average, theoretically a bullish signal, suggesting that the decline could be ending. But in reality, the price did not strengthen as a result; instead, it quickly weakened again, leading the moving averages to deteriorate once more, and the market re-entered a bearish state, indicating that sellers still have the upper hand.

Additionally, the RSI indicator, which measures market strength, is currently around 34, in a relatively low position, representing insufficient buying momentum, and it has not reached the stage where it can drive prices to rise continuously. Meanwhile, SHIB's price is also significantly below several important moving averages, which is typically seen as a sign of weak momentum and lack of rebound strength.

The overall environment is also not very friendly. Bitcoin has been fluctuating repeatedly recently, and market sentiment is cautious, leading to relatively weak performances from most altcoins, including Shiba Inu Coin. In this context, it is not easy for SHIB to independently break out into a strong trend.

If the current weakness continues, SHIB does not rule out the possibility of further decline. The market is generally focused on the important support level of $0.0000060 at the weekly level. If the price stabilizes after dropping here, perhaps a new rebound opportunity will arise; but if it fails to hold this level, subsequent pressure may be greater. In the short term, bulls need to return quickly; otherwise, the market will remain predominantly weak.