Shiba Inu's price has dropped significantly since mid-February and has cleared all gains made in 2023. The futures market is slightly bearish and SHIB is firmly bearish with a downtrend momentum on the daily chart.

Investors should track BTC price action alongside next week’s FOMC meeting announcement for optimized trades. The overall exchange accounts between long and short positions showed short positions at 53.98% dominance on the 12-hour timeframe as of press time.