Shiba Inu (SHIB) Price: Can Bulls Break the Critical Resistance Level?

TLDR

Table of Contents

59.17% of top traders are currently holding short positions on SHIB
Whale transactions between $1-10 million have decreased by 50% over past three months
SHIB is trading at approximately $0.00000119, up 2.30% in 24 hours
Technical analysis shows SHIB at a critical resistance level that could determine future price movement
Bitget CEO Gracy Chen predicts SHIB could reach $0.0000600 by the end of 2025

Shiba Inu (SHIB) finds itself at a crucial technical juncture as bearish sentiment dominates the market. The popular meme coin is currently trading at $0.00000119, up 2.30% in the last 24 hours despite a clear majority of traders taking short positions.

Recent data from Coinglass reveals that 59.17% of top traders are currently shorting SHIB, while only 40.83% hold long positions. This bearish outlook is reflected in the Long/Short Ratio of 0.69, well below the neutral mark of 1.0.

Trading volume has increased by 15%, indicating higher market participation even as sentiment leans negative.

Declining Whale Activity

A concerning trend for SHIB supporters is the marked decrease in large transaction activity. Data from IntoTheBlock shows a 50% drop in whale transactions between $1 million and $10 million over the past three months.

This pullback from institutional players has contributed to selling pressure on the token.

Exchange data reveals an inflow of $1.70 million worth of SHIB in the past 24 hours. This movement of tokens to exchanges often precedes selling activity.

The declining whale interest combined with exchange inflows suggests potential further downward pressure on price.

Technical Outlook

Technical analysis indicates SHIB has been moving within a descending channel pattern since early 2025. The token is currently testing the upper boundary of this channel, marking a critical resistance level.

This level will likely determine SHIB’s next directional move. A breakthrough above resistance could signal a trend reversal and potential upside.

If buyers maintain momentum and SHIB breaks out of the descending channel, technical analysis suggests a possible 20% surge to $0.00000152 in the coming days.

However, if selling pressure prevails, SHIB could drop by 14% to $0.00000109, continuing its downward trajectory within the channel.

Market observers are closely watching whether buyers can sustain enough momentum to overcome current resistance levels.

Expert Predictions Remain Bullish

Despite current market uncertainty and bearish price action, some industry experts maintain optimistic long-term outlooks for SHIB.

A recent report by Finder featured predictions from various crypto industry leaders. Bitget CEO Gracy Chen expressed a particularly bullish view, suggesting SHIB could reach the $0.0000600 level by the end of 2025.

This price target represents substantial upside potential from current levels, though it would require a reversal of the current bearish trend.

Meanwhile, the Shiba Inu team has been active on social media, recently posting “Shib is for everyone” on X (formerly Twitter). This message mirrors a similar post from Coinbase’s Layer 2 network Base, which sparked the launch of a new token.

The SHIB price reacted positively to this social media activity, gaining approximately 1% after the announcement.

The “Shib is for everyone” post was followed by another that read “Coined it,” linking to Zora, a platform that allows users to mint content as tokens.

This social media activity comes as the broader crypto market has seen increased interest in new token launches, particularly following Base’s recent saga where a new token reached a market cap of over $20 million before dropping 40%.

SHIB’s market behavior continues to be influenced by a combination of technical factors, whale activity, and broader market trends in the cryptocurrency space.

Traders remain divided on SHIB’s next move, with technical indicators suggesting the token is at a pivotal point that could determine its price direction in the coming weeks.

The continued decline in large transactions suggests institutional interest has waned in recent months, though retail activity remains strong based on trading volume.

For now, SHIB holders and prospective investors are watching key resistance levels to gauge whether the token can break its descending channel pattern and reverse the prevailing bearish trend.

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