The market is presenting various challenges to Shiba Inu Coin as indicated by the red candles on the daily chart. Investors in Shiba Coin are currently experiencing a downturn, influenced by the overall market negativity. There is a lack of interest from whale groups and other investors, and projects like Shibarium are also losing support.

Approximately 21% of network investors are currently profitable, indicating that a significant portion of assets are held by investors who are at a loss. This situation leads to a trend of selling current balances due to the absence of expected short-term price increases. Investors are also reducing their risks as they anticipate a prolonged post-halving downturn in BTC lasting for months. This trend of selling by investors at a loss may discourage others from taking risks at lower levels, resulting in further losses.

Shiba Coin, the second largest meme coin, is currently priced at $0.0000247 and has been moving in a downward channel for a month and a half. It is possible that the price could drop to $0.00002039 in May or early May, with potential for even lower levels. However, there may be attempts by bulls to bounce back at the $0.00002268 support level, depending on market conditions.

Given the current investor behavior, overall market sentiment, and macroeconomic risks, it is important to watch for further price movements. Should the upper trend line be breached, the key resistance level at $0.00002835 might be targeted by Shiba Coin investors.