Price Analysis

Shiba Inu Price Analysis: 150T SHIB Support at Risk Amid Market Sell-off

Shiba Inu price analysis shows a 24% potential drop to $0.00001 amid a market correction. An oversold RSI at 26% and support from 374K addresses buying 150T SHIB could trigger a rebound. 
Published by
Shiba Inu Price Analysis: 150T SHIB Support at Risk Amid Market Sell-off

Highlights

  • A falling wedge pattern governs the SHIB price correction in the daily chart.
  • Approximately 374K addresses that acquired 150 trillion SHIB at around $0.00001 could prevent a prolonged downfall.
  • A potential breach from the overhead trendline may invalidate a bearish thesis to bolster $0.00002.

Shiba Inu price analysis shows renewed selling pressure on the weekend following the Bitcoin correction below the $60000 psychological level. The market downturn could be attributed to rising geopolitical tension in the Middle as Hezbollah fires ‘Dozens’ of rockets at Israel. As the fear of recession in the US market persists, the crypto market is at risk for prolonged correction in the coming week.

Also Read: Will Bitcoin Price Bottom at $50k Amid Growing Speculation of Fed Rate Cut?

Advertisement

Shiba Inu Price Analysis Hints Major Reversal Within Wedge Pattern

Shiba Inu price analysis shows an aggressive correction since mid-July amid the market correction. The bearish turnaround plummeted the SHIB price from its high of $0.00002017 to $0.0000133, registering a loss of 33.9%. 

According to Coinglass data, Shiba Inu’s long position holders witnessed a forced liquidation of $4.3 million this week. The declining price showcased another bear cycle within the falling wedge pattern—a chart setup consisting of two covering trendlines that drive a series of a lower high and lower low.

SHIB Total Liquidations Chart | Coinglass

The Bollinger Band indicator challenged on the downside accentuates the aggressive sellers’ attitude towards this asset, bolstering the potential for a prolonged downfall. With sustained selling, the Shiba Inu price forecast hints at a 24% potential drop to retest the wedge support trendline at $0.00001.

SHIB/USDT 1d Chart

The $0.00001 region serves as significant support from both a pattern and on-chain perspective. Data from intotheblock analytics shows that about 374K addresses purchased nearly 150 Trillion SHIB between $0.000014 and $0.000008, representing a solid demand for SHIB coins at this discounted price. 

As long as this dog-themed memecoin remains above the average purchase price at $0.00001, the likelihood of panic selling among these holders remains low.

Also Read: Riot Exec Reveals How Bitcoin Strategic Reserve Can Aid US Economy

Global In/Out of the Money | Intotheblock

Furthermore, the Relative Strength Index (RSI) has dipped into the oversold territory at 26%, potentially drawing buyers interested in purchasing at lower prices. A rebound from the $0.00001 level could undermine the bearish outlook and fuel a rally toward $0.000014 to test the wedge resistance.

A bullish breakout from the overhead trendline will signal an early sign of trend reversal.

Advertisement

Related Articles

Frequently Asked Questions

What is a falling wedge pattern in technical analysis?

A falling wedge pattern is a bullish reversal pattern formed by two converging downward-sloping trendlines. This pattern typically indicates that the asset is undergoing a consolidation phase before a potential breakout to the upside.

What is a falling wedge pattern in technical analysis?

The $0.00001 support level is significant because a large number of addresses (around 374,000) purchased approximately 150 trillion SHIB tokens within this price range.

What does liquidation mean in cryptocurrency trading?

Liquidation occurs when a trader's leveraged position is automatically closed by the exchange because the trader can no longer meet the margin requirements
Share
Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone

XRP price remains under intense pressure as woes in the crypto market industry continue. Ripple…

October 22, 2025
  • Price Analysis

Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK

The Chainlink price recently rebounded sharply from the $16 demand zone, an area that has…

October 22, 2025
  • Price Analysis

Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes

Plummeting Pi Network price may be preparing a significant short squeeze after forming a rare…

October 21, 2025
  • Price Analysis

Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card

The Solana price is attempting a mild recovery after a recent consolidation phase, with the…

October 21, 2025
  • Price Analysis

XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?

The crypto market remains steady as XRP price consolidates within a well-defined structure on the…

October 21, 2025
  • Price Analysis

Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing

Ethereum price is showing renewed strength after an analyst projected a move toward $8,000. The…

October 20, 2025