• Shiba Inu drops 14.4% in past week to current $0.00001423 level.
  • Key resistances identified at $0.000015 and $0.000017 levels.
  • Whale accumulation increases 1.6% despite price downtrend.

Shiba Inu (SHIB) has formed a clear downtrend over the past week, dropping 14.4% between May 13 and May 19 as the token moved from approximately $0.000017 to its current level near $0.00001423. With an additional 2.1% decline in the last 24 hours, short-term momentum has weakened, resulting in a pattern of lower highs and lower lows on the price chart.

Despite this bearish price action, technical analysis suggests potential breakout scenarios that could shift SHIB’s trajectory if the token can overcome key resistance levels. The consolidation pattern forming may signal an opportunity for trend reversal.

Shiba Inu weekly chart reveals critical breakout levels

Analyst Şeyma provided a comprehensive multi-timeframe analysis of the 1000SHIB/USDT perpetual contract on Binance, focusing on both weekly and 4-hour timeframes to identify crucial price levels.

#SHIB $SHIB | W-4h

If the week closes above the red line and then breaks the purple line with a breakout candle, the bullish market structure will continue.. otherwise the grey box and the purple line below it are the demand zones.

If all these positive expectations come true… pic.twitter.com/4q4kpXWkdn

— Şeyma💱 (@traderseyma) May 18, 2025

The weekly chart shows that while SHIB experienced a prolonged downtrend from December 2024 through early 2025, the token has entered a consolidation phase. This sideways movement could set the stage for a potential reversal, contingent on breaking specific resistance barriers.

The first major resistance level sits just above $0.000015, coinciding with a declining red resistance trendline. According to Şeyma’s analysis, a weekly close above this threshold would signal potential bullish continuation. However, further confirmation would require clearing the secondary resistance near $0.000017.

Only a decisive breakout candle surpassing both levels would validate a bullish market structure, potentially opening the path toward a $0.000030000 target. This move would represent a 114.29% gain from current levels around $0.000014.

If bullish confirmation fails to materialize, Şeyma identifies clearly defined demand zones as potential retracement targets. These support areas exist just under $0.000013, with secondary support around the $0.000010 level, providing downside protection.

On-chain data from IntoTheBlock reveals a noteworthy shift in SHIB ownership dynamics. Large holders, commonly known as whales, have increased their positions by 1.60% over the past 30 days despite the declining price.

This accumulation occurred while mid-sized investors reduced their holdings by 4.99%, suggesting tokens are transferring toward whale wallets. Retail ownership remained relatively stable with a minor 0.46% decrease, indicating smaller holders aren’t panicking despite recent price declines.