According to analyst MMBTtrader, the Shiba Inu price pump hasn’t started yet, with real bullish momentum expected only after a confirmed breakout above a descending trendline.
Shiba Inu (SHIB) experienced notable price fluctuations between May 10 and May 16, 2025, trading within a range of $0.00001460 to $0.00001730. Despite several attempts to rally, the token failed to maintain upward momentum.
These repeated reversals pointed to strong resistance levels and potential profit-taking behavior by short-term traders.
According to an analyst on TradingView, the market has yet to confirm the start of a true bullish rally, despite the short-term volatility. The technical chart analysis reveals a longer-term bearish structure still in place.
Descending Trendline Maintains Bearish Pressure
The TradingView chart by analyst MMBTtrader highlights a dominant descending trendline that has acted as dynamic resistance since early 2024 after SHIB dropped from the $0.00004 high. This trendline has consistently rejected multiple rally attempts, with price unable to establish higher highs.
Most recently, SHIB tried to surpass the resistance level near $0.000033 but failed, retracing to a local support zone at $0.000010083. The analysis indicates that only a strong breakout above this trendline could signal a shift toward sustained bullish momentum. If achieved, it could lead to increased trading volume and potentially larger bullish candles.
Notably, the trendline resistance currently rests on $0.000026 at press time. However, the asset believes SHIB will remain below it for an extended period, with the dynamic resistance dropping to $0.00002044 by the time it pushes to break above the trendline.
Should a breakout occur, he expects an impressive rally, one placed at $0.000033. This reflects a more aggressive objective, requiring a 121.75% increase from SHIB’s current price of $0.00001488.
However, the analyst’s commentary is that real bullish candles—accompanied by high volume and a notable price surge—are expected only after SHIB breaks above the descending resistance trendline. Apart from that, he says, “the pump is not even started yet.”
Support Levels Form Key Structural Foundation
The chart also outlines critical support zones. A major daily support area, marked in green between $0.00000582 and $0.00000676, has served as a historic base before SHIB’s earlier climb to $0.000045.
Another local support, at $0.00001067, has been revisited several times, creating what appears to be a triple-bottom pattern. Such a formation reflects strong buyer interest in the area.
Whale Activity Rises Amid Retail Exit
Meanwhile, a separate chart from IntoTheBlock presents ownership trends across whale, investor, and retail categories. Over the last 30 days, whale holdings increased by 1.53%, according to the data, while mid-sized investor holdings declined by 4.69%.
Retail participation also saw a modest drop of 0.47%. This change in distribution indicates ongoing accumulation by large holders, typically seen as a stabilizing force in volatile markets.
Although smaller holders exited, the transfer of supply into stronger hands could potentially reduce short-term sell pressure and support price stability during periods of consolidation.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
