Shiba Inu nears a decisive chart pattern as inflows rise | Credit: Hameem Sarwar
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Key Takeaways
SHIB stabilizes in ascending channel despite YTD 60% drop.
Whale activity is increasing, indicating potential upcoming volatility.
Sustained breakout could lead to $0.0000093 — here is why.
Over the past few days, the Shiba Inu (SHIB) price has remained stable, avoiding losses.
In fact, within the past week, the memecoin’s market value has increased by 7.53%.
Despite that, SHIB’s price is down 60% on a Year-To-Date (YTD) basis. In this analysis, CCN reveals how the cryptocurrency could end the year stronger, but might also struggle to erase much of these losses.
Shiba Inu Displays Strength
Unlike the weakness it exhibited in early November, SHIB is now trading within an ascending channel.
The memecoin has managed to hold support at $0.0000076 and $0.0000083, maintaining its short-term structure.
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Even so, the Bull Bear Power (BBP) remains negative, indicating that sellers continue to influence the market despite buyers’ attempts to regain control.
At the same time, the Supertrend’s red line sits above SHIB’s price. This position signals a significant overhead resistance that could limit SHIB’s ability to climb.
Until price breaks above this barrier with strong momentum, SHIB’s upside remains restricted.
Therefore, if this trend persists, the cryptocurrency may struggle to surpass $0.0000088. However, it is also important to note that this will largely depend on the level of impact bulls have.
Should bulls maintain the pressure, SHIB’s price may break the resistance. On the other hand, sustaining the current level of impact may keep the cryptocurrency in a state of consolidation.
Correction Risk Appears Limited
Furthermore, a sharp Shiba Inu correction appears unlikely for now.
On-chain data from Santiment shows SHIB recording its highest level of whale transfers since June 6, accompanied by a net increase of 1.06 trillion in SHIB held on exchanges.
This surge in activity signals heightened interest from large holders at a critical moment.
SHIB Whale and Exchange Supply | Credit: Santiment
Examining the daily chart, SHIB’s price is now approaching the resistance line of a descending triangle.
As seen below, the price has tightened into the apex of the pattern, suggesting that a decisive move is nearing.
However, Holders’ Sentiment remains negative, indicating that long-term participants are still uncertain about SHIB’s ability to sustain a recovery.
Despite this, the Money Flow Index (MFI) provides a contrasting signal. The indicator sits above the neutral 50 line, showing that capital inflows are increasing as buyers gradually re-enter the market.
If buying pressure continues to build, SHIB could rise toward $0.0000093, which aligns with a minor resistance level formed earlier in the month.
A more substantial bullish surge, especially one fueled by whale activity or a spike in overall crypto market sentiment, could propel the memecoin toward $0.000010, a psychologically critical threshold.
In that case, the incoming volatility may translate into a deeper pullback. A breakdown below immediate support would likely drag SHIB toward $0.0000075.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
