Shiba Inu (SHIB) is facing increasing bearish pressure after failing to break through key resistance at $0.00001470, with large holder activity and liquidity drying up. However, analysts maintain a cautiously bullish long-term view, citing Shibarium growth and aggressive token burn strategies.
Whale Activity Nosedives, Liquidity Shrinks
Recent on-chain data reveals a dramatic decline in SHIB whale activity:
- Large transaction volume dropped 74% in five days, from 5.76 trillion SHIB to 1.47 trillion.
- Whale inflows and outflows fell over 80% in the past month, a sign of shrinking market participation and liquidity.
- The decline coincides with the token’s inability to break above $0.00001470, a key resistance level where high-volume selling has repeatedly halted rallies.
According to CoinDesk Research’s technical model, bearish momentum has strengthened amid global economic uncertainty, with SHIB forming lower highs since recent peaks.
Technical Analysis: Bearish Near-Term, Bullish Signs Emerging
Over the past 24 hours, SHIB has traded between $0.00001425 and $0.00001469, a 3% range marked by volatility and intraday swings. Key technical observations:
- Resistance zone: $0.00001467–$0.00001470
- Support zone: $0.00001426–$0.00001436
- Recent formation of higher lows from 07:56 onward suggests emerging bullish momentum
- Accumulation spikes between 07:41–07:44 indicate short-term buyer interest
- Latest bounce: From $0.00001427 to $0.00001431, signaling a 0.28% recovery within the hour
Despite short-term weakness, technical setups hint that buyers are gradually returning, although resistance near $0.00001435 remains a barrier.
Shibarium Development & Token Burns Fuel Optimism
While current sentiment is weighed down by market volatility, long-term SHIB prospects remain promising:
- Continued Shibarium development could enhance network utility and scalability.
- Token burn mechanisms are expected to gradually reduce SHIB’s massive circulating supply, potentially creating deflationary pressure.
- Changelly forecasts SHIB to hit $0.0001 by 2029, while ambitious projections targeting $0.01 by 2040 depend heavily on aggressive supply reduction.
Outlook: Watch for Break Above $0.00001470
If SHIB can consolidate above $0.00001435 and flip the $0.00001470 resistance, short-term momentum could shift bullish. However, with whales sidelined and liquidity thin, any rallies will likely need ecosystem catalysts or macro sentiment shifts.
Support to watch: $0.00001426
Resistance to break: $0.00001470