SHIBUSDT Technical and Fundamentals AnalysisSHIB / TetherUSBINANCE:SHIBUSDTHichamAMMFundamental bias Bias for SHIBUSDT: Bearish (SHIB weaker than USDT) on a medium‑term horizon, with medium confidence. Why (3–5 key reasons): Post‑bubble, downtrend structure: SHIB trades around the 0.000004–0.000005 area with market cap near 2.4–2.5 billion dollars, roughly 94% below its 2021 ATH, and recent technical analysis shows price below all major moving averages in a textbook bearish formation. Macro risk appetite is cautious, not euphoric: The crypto Fear & Greed Index at 37 (“Fear”) and commentary about macro and regulatory headwinds indicate a market that is not eager to pile into high‑beta meme coins yet. US dollar fundamentals are solid: The US economy is expanding at a solid pace, inflation is easing toward mid‑3% levels, and the Fed is holding rates at 3.5–3.75%, giving USD positive real yields and stability advantages over speculative tokens. Tokenomics headwind for SHIB: Roughly 589 trillion tokens already circulate and almost all supply is out; even a doubling of market cap only marginally improves per‑token price, making big sustainable moves harder without enormous new capital inflows. Event‑driven rallies, not structural demand: Recent SHIB spikes have been linked to short‑term burn surges and regional trading bursts rather than persistent ecosystem revenue growth, which usually fades once hype cools.