Shiba Inu, a prominent meme coin, has shown remarkable growth during the recent meme coin surge, increasing by 24% in the past week and currently trading at $0.000015, with a 4% increase today.

Nevertheless, there are indications that the upward trend might be slowing down. Traders are taking profits, and technical indicators are revealing a weakening demand for the alternative coin.

The Bollinger Band Trend (BBTrend), a key indicator for evaluating market momentum for SHIB, has started to decline. The size of the histogram bars has been gradually decreasing, which suggests a dwindling buying pressure in the meme coin market.

This could potentially hinder SHIB's price increase. Should this trend persist, there is a risk of a possible pullback or consolidation in the near future.

Moreover, there has been a rise in the demand for short positions on SHIB since May 6. The Long/Short Ratio for the coin has consistently fallen below one, currently standing at 0.98, indicating a growing inclination towards short bets. This rise in short positions implies a lack of confidence in the coin's ability to maintain its upward momentum, foreshadowing a potential price drop soon.

The declining Chaikin Money Flow (CMF) for SHIB underscores the diminishing buying pressure among its traders. The momentum indicator is on a downward trend and is approaching the zero line. A breach of this line would confirm a negative shift in the market trend, potentially causing SHIB to retrace some of its recent gains and drop towards $0.000010.

On the upside, if SHIB manages to sustain its upward trajectory, it could reach a multi-month high of $0.000019.