Geopolitical tensions, including the trade war between the US and China, are causing volatility in financial markets, with cryptocurrencies being particularly vulnerable.
Shiba Inu (SHIB), a meme coin, is already showing weakness in its price amidst broader market unease.
The daily chart for SHIB indicates a consistent downtrend, with the coin unable to reclaim major moving averages and bearish control evident.
The hourly chart shows a potential short-term recovery, but lack of volume and uncertainty surrounding trade policies suggest a dead cat bounce scenario.