An analysis says meme coin Shiba Inu (SHIB) is increasingly vulnerable to further losses after failing to reclaim a key resistance area.

The Crypto Basic, a blockchain media outlet, reported on Sunday local time that Shiba Inu limited its decline to about 1 percent over the past 24 hours, but the overall chart structure remains tilted to the downside.

Shiba Inu ranks third by meme coin market capitalisation. It fell 2 percent last Sunday and ended last week 7.7 percent below its opening level. Its cumulative loss for June has exceeded 15 percent. If the move continues, it would be the biggest monthly drop since December 2025.

On the 4-hour chart, the price was pushed back again at a downtrend resistance line, reinforcing a bearish structure. Shiba Inu retreated after retesting a key supply zone at $0.00000520 early last week. The area is where sell orders are concentrated, and is interpreted in the analysis as a sign sellers still hold the upper hand.

Technical indicators also pointed in the same direction. The relative strength index (RSI) showed bearish divergence. Prices made a higher high, but the RSI showed lower highs and lower lows. A fair value gap (FVG) area formed in early June was also revisited, after which selling pressure succeeded in holding the line.

Volume trends were also cited as a burden. A recent spike in trading resembles a pattern associated with distribution selling. That suggests large funds may have reduced exposure as retail buying followed a strong attempt to rally. Volume surged after a buying peak but failed to lead to an upside breakout, and after absorbing liquidity above $0.00000520 once, the price fell back below a lower trigger line. Such a move is typically interpreted as a signal of rising supply.

Near-term support levels were also presented. If downward momentum strengthens further, the first area to watch is $0.00000457. That is about 2 percent below the current market price of $0.00000467. The next major support area is $0.000004310, 7.7 percent below the current level.

The bearish scenario, however, is not confirmed. If Shiba Inu regains the $0.00000520 resistance line and breaks above it with strong volume, the current outlook could weaken.

Derivatives market flows also reflect a cautious mood. Over the past seven days, traders closed more existing contracts rather than increasing new futures positions. CoinGlass data put futures inflows at $28.6 million and outflows at $31.9 million. The market will likely watch whether defensive positioning persists in derivatives alongside the bearish structure on the spot chart.