Quick Summary:
- SHIB price dropped 14.4% between May 13 and May 19, now trading around $0.00001423
- Key resistance levels: $0.000015 and $0.000017
- Whale accumulation increased by 1.6% in the last 30 days
- Analyst Şeyma highlights potential for bullish reversal if resistance is broken
- Support zones: $0.000013 and $0.000010
Downtrend Continues — But for How Long?
Shiba Inu (SHIB) has been on a downward slope, falling by 14.4% over the past week and an additional 2.1% in the last 24 hours. The price now hovers near $0.00001423, forming a clear pattern of lower highs and lower lows, signaling short-term bearish momentum.
Yet, this slump may be setting the stage for a potential breakout.
Analyst Eyes Bullish Breakout Potential
According to crypto analyst Şeyma, a multi-timeframe analysis of SHIB’s weekly and 4-hour charts shows key resistance levels at $0.000015 and $0.000017.
“A weekly close above $0.000015 could be the first signal of bullish continuation,” Şeyma notes. “However, a breakout above $0.000017 is needed to confirm a shift in market structure.”
If these resistance levels are breached, SHIB could rally towards $0.000030, marking a 114.29% gain from its current level.
What if SHIB Drops Further?
Should SHIB fail to break resistance, Şeyma points to support zones just below $0.000013, with a secondary safety net around $0.000010. These levels may offer downside protection and attract new buyers.
Whale Moves Speak Volumes
Despite the price slump, on-chain data from IntoTheBlock shows that whales are accumulating, increasing their SHIB holdings by 1.6% over the past month. Interestingly, mid-sized investors trimmed their positions by 4.99%, while retail holders remained steady, suggesting the smart money is loading up during the dip.
Final Thoughts
While Shiba Inu’s recent performance has disappointed short-term traders, growing whale accumulation and an upcoming technical breakout could turn the tide. Investors should watch the $0.000015–$0.000017 resistance zone closely — a breakout here might just reignite SHIB’s rally.
Stay tuned and don’t let the dog sleep on this one 🐶📊