Shiba Inu RSI Nears Oversold Levels as Price Hangs Above $0.0000058

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Potential scenarios for SHIB price New shift emerges on crypto market Advertisement Shiba Inu saw a drop alongside other major cryptocurrencies as investors reacted ahead of the release of the delayed January jobs report. Shiba Inu extended its drop into the fifth day from a high of $0.00000642 on Feb. 7, with its daily RSI weakening further. At the time of writing, SHIB was down 1.91% in the last 24 hours to $0.00000585 and down 12.25% weekly. Amid the drop, Shiba Inu's daily RSI is nearing oversold levels below 30, currently at 32. HOT Stories Morning Crypto Report: Bitcoin Drops to $67,000 Amid CPI Caution, Ripple Targets UK Insurance Market for XRP Ledger, Dogecoin Creator Reacts to Satoshi Theories Goldman Sachs Holding $152M in XRP A drop below 30 might confirm oversold levels, which might precede a price reversal; however, Shiba Inu's recovery might be dependent on broader market sentiment. Advertisement SHIB/USD Daily Chart, Image By: TradingView The Crypto Fear and Greed Index currently sits at 9, indicating "extreme fear" on the market. This suggests that traders might be taking caution amid a prolonged sell-off on the market, which saw many crypto assets plunge to multimonth lows. Potential scenarios for SHIB price The previously delayed nonfarm payrolls report for January was released on Wednesday. Job growth was stronger than expected to start 2026, providing some relief to concerns about the state of the labor market. Advertisement Nonfarm payrolls increased by 130,000 for January, above the estimated 55,000, according to Bureau of Labor Statistics report. Markets rose following the news, with stock market futures ticking higher. You Might Also Like Tue, 02/10/2026 - 13:21 Shiba Inu (SHIB) Key 82,000,000,000,000 Threshold Gone: Retail Investors Moving to Self-Custody By Arman Shirinyan The impact will be watched on the crypto market. If a reversal occurs and the market rebounds, Shiba Inu might aim for $0.000006. On the other hand, Shiba Inu might continue to trade sideways between $0.000005 and $0.000006 if the current uncertainty continues, with support expected at $0.000005. New shift emerges on crypto market Galaxy CEO Mike Novogratz suggests that the recent crypto sell-off might be a reflection of a larger industry shift. In a CNBC interview, Novogratz stated that crypto’s "age of speculation," in which investors expected outsized returns, may be ending as more risk-averse players enter the sector. "It’s going to be real world assets with much lower returns," Novogratz said, highlighting a market shift. #Shiba Inu (SHIB) News #Shiba Inu #Shiba Inu (SHIB) Price Prediction