Shiba Inu (SHIB) Price Analysis: 658-Day Support at Risk if This Scenario Plays Out

Key Takeaways

• Shiba Inu (SHIB) bounced at a confluence of support levels.
• The wave count suggests new Shiba Inu lows are likely.
• Will Shiba Inu prevent a breakdown by rallying in April?
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Shiba Inu (SHIB) rallied in March, preventing a breakdown from a critical support level with a 45% bounce.  However, the trend reversed on March 26, causing the price to lose most of its monthly gains.

After the decline, all eyes are on the confluence of long-term support levels at $0.0000113 since a breakdown below can trigger a significant decrease. Let’s look at the charts and see how likely this is.

SHIB Bounces at Support

The weekly time frame analysis shows that SHIB has increased alongside an ascending support trend line since the current market cycle started in June 2023.

The trend line was validated several times, most recently in March 2025, when SHIB bounced at the confluence of the trend line and the $0.0000113 horizontal support area (green icon).

While SHIB rallied after the bounce, it did not sustain the upward movement this week, failing to clear the $0.0000156 horizontal resistance area (red icon).

Another interesting feature of the price movement is that SHIB did not sweep the August 2024 lows, making the correction less likely to be over.

Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are leaning bearish.

The indicators trend downward and are below their bullish thresholds at 50 and 0, respectively. So, the weekly time frame price action and indicator readings are insufficient in predicting the future SHIB trend.

Will SHIB Break Down?

The long-term SHIB wave count is bearish, indicating the price will break down from its confluence of support levels. There are several reasons for this.

Firstly, SHIB completed a five-wave downward movement after its all-time high in 2021 (red). It then followed that with an A-B-C correction (green).

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This suggests the SHIB trend is bearish, and new lows are likely even in the optimistic scenario, where the current decline is an A-B-C structure.

Giving waves A and C the same length leads to a low of $0.0000077. On the other hand, the bearish scenario in which the decrease is a five-wave downward movement will lead to the price falling below the 2023 low of $0.0000054.

Either way, the SHIB long-term trend seems bearish, and new lows will occur in the near future. A breakdown from the $0.0000113 support will confirm this.

Bearish 2025 SHIB Trend

The SHIB price prevented a breakdown from a long-term support level by bouncing and rallying over 45%.

However, the price could not sustain the increase and is now at risk of breaking down again.

The wave count analysis suggests a breakdown is likely, taking the SHIB price to at least $0.0000077.