Shiba Inu’s price action has been marked by rapid rallies followed by steep pullbacks, while on-chain data signals whale selling and hints at short-term bearish pressure.
In recent trading sessions, SHIB showed strong bullish momentum supported by heavy volume, only to reverse sharply as sellers stepped in. Technical charts indicate the token is consolidating just below critical resistance between $0.00001450 and $0.00001600, with traders eyeing this range for a potential breakout.
On-chain metrics raise caution: whale netflows have dropped by 311%, and active addresses have declined by 68% since December, signaling waning large-holder interest.
The market appears to be stuck in a range, and a decisive move could come only if SHIB breaks above the descending trendline resistance near $0.00002044.
Currently, just 17% of holders are in profit, while over 80% hold at a loss, suggesting any price surge might trigger heavy selling as investors aim to cut losses or break even.
Analysts remain divided on SHIB’s short-term outlook, with some seeing potential bullish setups and others pointing to weakening on-chain fundamentals as a warning.
Technical Analysis Summary:
- Strong high-volume support formed at $0.00001417 around 19:00, followed by steady buying.
- Volume surged above $700 million between 04:00-06:00, confirming early bullish strength.
- The last trading hour showed a 1.77% pullback, indicating profit-taking.
- A bearish EMA alignment is in place, with price struggling to surpass the 50-day moving average.
- Hourly charts reveal a descending channel with lower highs and lows, reflecting short-term bearish momentum.
- A spike of over 110 billion in trading volume coincided with a sharp breakdown below key support levels.
