Why is SHIB Price Dropping Despite Support?

Shiba Inu (SHIB) is at a crossroads again, raising big questions for traders: Is a bounce around the corner or are whales signaling a deeper decline? Here’s a closer look at SHIB's current status and a short-term Shiba Inu price prediction based on market trends and on-chain activity.

Price Holds Key Support—But for How Long?


At the time of writing, SHIB trades at $0.00001275 after a modest 1.47% intraday dip and a marginal weekly decline of 0.16%. It’s been ranging between $0.00001274 and $0.00001360 in the past 24 hours. Notably, the 9-day Simple Moving Average (SMA) has flattened near $0.00001274—signaling that SHIB is testing a key support zone.

If the price closes below this mark, we may see a drop to the psychological support at $0.00001200. However, a potential double-bottom pattern near $0.00001200 could hint at a reversal if SHIB holds above $0.00001270.

Whale Activity Signals Caution



On-chain data shows troubling signs. Whales are steadily reducing their positions:

  • Wallets with 1M–10M tokens now hold 2.03T SHIB, down from 2.05T in March.

  • Wallets with 10M–100M tokens are down to 9.35T from 9.41T.

This consistent sell-off, along with an increase in SHIB held on exchanges—from 140.7T to 141.12T—suggests that investors are preparing for further downside or rotating into newer meme coins like SPX6900 and Fartcoin.

Also Read: Tron Price Prediction 2025, 2026 - 2030

Shibarium’s Struggles Add Pressure

Despite being over two years old, Shibarium’s TVL remains at just $3 million. In contrast, newer networks like Unichain and Sonic are attracting significantly more capital.

Final Thoughts

SHIB is in a fragile position. If it holds support and breaks above $0.00001360, bulls may target $0.00001450. However, increased whale selling and stagnant fundamentals suggest caution. This week could be pivotal for SHIB’s price prediction outlook.

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