CoinDesk 2025-05-28 13:15:05

SHIB Stalls Below Key Resistance as Whale Activity Collapses 83%.

The cryptocurrency market continues to navigate choppy waters as global economic tensions weigh on investor sentiment. Shiba Inu has established a resistance zone around $0.00001467-$0.00001470, where high-volume selling has prevented upward movement, according to CoinDesk Research's technical analysis data model. The formation of lower highs since recent peaks indicates increasing bearish pressure, though the token has found support between $0.00001426-$0.00001436. Recent data shows Shiba Inu experienced a dramatic 74% decline in large transaction volumes, falling from 5.76 trillion SHIB to just 1.47 trillion in five days. This significant drop in whale activity has created a liquidity contraction in the ecosystem, with both inflows and outflows declining by over 80% in the past month. Despite these challenges, several analysts maintain bullish outlooks on SHIB's future. Some point to the token's expanding ecosystem, including Shibarium development, as reasons for long-term optimism. Changelly analysts predict SHIB could reach $0.0001 by 2029, while more ambitious forecasts suggest a potential $0.01 price point by 2040, though this would require significant supply reduction through token burns. Technical Analysis Highlights SHIB exhibited notable volatility over the 24-hour period, with prices ranging from a high of $0.00001469 to a low of $0.00001425, representing a range of 3%. The token established a significant resistance zone around $0.00001467-$0.00001470, where high-volume selling emerged during the 13:00 and 17:00 hours, preventing further upward movement. Support levels formed at $0.00001426-$0.00001436, with the price bouncing off these levels multiple times, though the declining volume profile suggests waning buyer interest. The formation of lower highs since the 17:00 peak indicates increasing bearish pressure, with the price ultimately settling at $0.00001430, down 1.78% from the period's high. In the last hour, SHIB demonstrated a notable recovery pattern, climbing from $0.00001427 to $0.00001431, representing a 0.28% gain. The token established a strong support zone at $0.00001429-$0.00001430, which successfully held during multiple tests at 07:26 and 07:30. Volume analysis reveals increasing buyer interest, with significant accumulation occurring during the 07:41-07:44 period when prices reached the session high of $0.00001436. The formation of higher lows since 07:56 suggests building bullish momentum, though resistance remains at the $0.00001433-$0.00001435 level where selling pressure emerged at 07:55. External References " Shiba Inu (SHIB) Price Prediction for May 28: Can Bulls Retake $0.00001573 as Price Squeezes? ", Coin Edition, published May 27, 2025.