Shiba Inu Risks Slide to $0.0000055 as Sellers Dominate Price Action

As the broader crypto market endured another pullback yesterday, analysts are now assessing what lies ahead for Shiba Inu

Market watchers believe Shiba Inu remains in a vulnerable position with sellers dictating its short-term price action.

Key Points

• Shiba Inu remains technically vulnerable, with sellers firmly controlling short-term price action.
• A descending trendline near $0.0000065 defines SHIB’s latest weakness and may cap upside attempts.
• If this resistance holds, analysts warn that SHIB risks sliding toward $0.0000055.
• A decisive breakout above the trendline would invalidate the bearish outlook and signal a shift in momentum.

Shiba Inu Still Within a Bearish Structure

In a recent commentary, analyst HolderStat examined the 30-minute SHIB/USDT chart and noted that Shiba Inu continues to trade within a bearish structure defined by a descending trendline. This setup, reinforced by a sequence of lower highs and lower lows, confirms sustained selling pressure.

Recently, SHIB suffered a sharp sell-off alongside the broader market, which dragged the price to around $0.0000055 before a bounce from the local low. However, the recovery lost momentum and failed to break above the descending resistance near $0.0000065.

As a result, HolderStat stresses that price is now consolidating below the main descending trendline. In addition, the analyst suggested that a weak rising support line is forming beneath the price, creating a tightening compression zone that reflects fading bullish strength.

Further Downside for SHIB

Per HolderStat’s analysis, the sloping trendline continues to act as dynamic resistance, reinforced by multiple prior rejection areas. If this level holds, HolderStat warns that SHIB is likely to resume its downward move, with price potentially revisiting the $0.0000055 zone seen last week.

Conversely, a decisive breakout and sustained close above resistance would invalidate the bearish bias and signal a short-term trend shift. Until then, SHIB remains technically fragile, with sellers maintaining structural control and downside pressure still favored.

Next Move

HolderStat’s analysis comes amid a recent market pullback. After trading near $0.0000062 yesterday, SHIB quickly lost momentum and slipped to around $0.0000060. This reinforced the view that the bearish trend has dominated recent sessions.

At $0.000006018, the token is down 1.69% over the past 24 hours, extending its weekly decline to 12%. At the same time, SHIB posts losses of 30.24% over the past 30 days and 13.2% year-to-date.

Technically, SHIB faces immediate resistance at $0.0000065, with higher barriers at $0.00000705 and $0.00000847. Meanwhile, $0.00000562 stands as the nearest support zone.