SHIBA INU (SHIB) is showing key technical and on-chain signals that could shape its next major move. Let’s examine further.
SHIB Forms Falling Wedge, Eyes 39% Breakout Toward $0.00001993
The SHIBA INU (SHIB) 4-hour chart from May 19, 2025, reveals a falling wedge pattern. This formation is visible through two converging downward-sloping trendlines, drawn from the May 11 peak toward the most recent lows.
A falling wedge is a bullish reversal pattern where price makes lower highs and lower lows within narrowing trendlines. It typically signals that bearish momentum is weakening and a breakout to the upside may follow.
If SHIB confirms a breakout above the wedge’s resistance near $0.00001484, the price could rally approximately 39% from the current $0.00001433 level. This breakout could potentially send SHIB to the $0.00001993 mark.
The chart also shows that SHIB previously surged in early May before consolidating within this wedge. Volume declined during the wedge formation, which aligns with typical wedge behavior. Meanwhile, the 50-period Exponential Moving Average (EMA) sits just above the current price, near $0.00001484, acting as resistance.
At the same time, the Relative Strength Index (RSI) has moved from oversold territory toward the neutral 50 line, now reading at 44.25. This shift suggests early bullish momentum.
SHIB Whale Count Slips Again, Hinting at Waning Confidence
Meanwhile, the number of Shiba Inu (SHIB) whales—wallets holding at least 1 billion tokens—has slipped to 10,205, down from 10,232 just nine days ago.
Although the drop appears minor, it continues a broader pattern of gradual decline in large-holder participation. This slow erosion suggests some whales may be reducing exposure or taking profits amid ongoing market uncertainty.
According to Santiment, these large addresses play a crucial role. They can impact SHIB’s price direction through high-volume transactions, often signaling shifts in sentiment.
At the same time, the overall trend has remained negative despite occasional upticks. Fewer whales could reflect weakening long-term conviction in SHIB’s future. Without new inflows from retail buyers or fresh investors, the reduced whale presence may curb potential price momentum.
