Shiba Inu (SHIB) continues to face strong technical resistance despite recent price fluctuations, according to crypto analyst MMBTtrader. Although the meme token has shown signs of life, the analyst warns that the real bullish momentum will only begin once SHIB breaks decisively above a descending trendline that has kept prices suppressed since early 2024.
Volatility Without Confirmation
Between May 10 and May 16, 2025, SHIB traded in a relatively tight range between $0.00001460 and $0.00001730. While brief rallies sparked short-term enthusiasm, the token quickly retraced, pointing to strong overhead resistance and likely profit-taking by short-term traders.
MMBTtrader, a well-known analyst on TradingView, argued that SHIB has not yet triggered a true breakout. Despite short-term volatility, the broader structure remains bearish due to a persistent descending trendline formed after the token fell from its 2024 high near $0.00004.
Descending Trendline Blocks SHIB’s Momentum
The chart analysis shows that this descending trendline has consistently rejected multiple rally attempts and prevented the price from setting higher highs. Most notably, SHIB failed to hold above $0.000033, retracing to a support zone near $0.000010083.
According to MMBTtrader, a true bullish shift will only occur if SHIB breaks above this dominant trendline, which currently rests at $0.000026. Interestingly, the trendline is dynamic and descending, and by the time SHIB challenges it again, resistance could be around $0.00002044.
If the breakout happens, the analyst expects a sharp rally toward $0.000033, representing a 121.75% surge from the current price of $0.00001488. However, he emphasizes that such a breakout must be confirmed by high volume and large bullish candles to validate a sustained rally.
“The pump is not even started yet,” MMBTtrader stated, reinforcing that SHIB remains trapped under long-term resistance.
Key Support Levels Offer Structural Strength
While SHIB struggles to break out, several key support zones offer a solid foundation for price stability. The analyst’s chart highlights a major daily support zone between $0.00000582 and $0.00000676, which served as a launchpad during SHIB’s historic rise to $0.000045.
Another important support level lies at $0.00001067, where the price has bounced multiple times, forming what appears to be a triple-bottom pattern. This repeated reaction suggests significant buyer interest at these levels, making them critical to defending against further declines.
Related article: SHIB in the Crosshairs: 103 Trillion Tokens Rest on Key Support as Price Falls to $0.000015
Whale Accumulation Signals Long-Term Strength
Meanwhile, on-chain data from IntoTheBlock reveals changing ownership trends. Over the past 30 days, whale holdings rose by 1.53%, while mid-tier investor holdings dropped by 4.69%. Retail ownership also declined slightly by 0.47%.
Larger investors are actively accumulating SHIB, even as smaller holders continue to exit. This whale accumulation typically signals a bullish trend, as it reduces the circulating supply and helps ease short-term selling pressure during consolidation phases.
Although SHIB has shown brief price spikes, MMBTtrader emphasizes that the real rally hasn’t started. The asset remains stuck below a dominant descending trendline, which it must break to unlock meaningful upward momentum. Until that breakout occurs, the analyst considers recent price movements to be early and non-confirmatory.
