- Pullback toward $0.000004 support creates a potential setup for renewed bullish momentum.
- A descending wedge and reset Stochastic RSI could support a rebound.
- Long-term SHIB holders reached record levels, signaling stronger conviction despite recent selling.
Shiba Inu has surrendered most gains from the July and August breakout. SHIB now trades near $0.00000451 after a sharp pullback. The decline has raised fresh questions about the token’s next direction. Bulls still have several technical signals worth watching closely. Meanwhile, long-term holders continue building their positions despite recent weakness. That contrast gives SHIB an interesting setup for traders. A recovery toward $0.00000509 remains possible if buyers regain control soon.
SHIB Faces a Full Technical Reset
SHIB fell back toward the 0.236 Fibonacci support zone after losing momentum. The token previously broke above a descending trendline during late July. However, sellers quickly erased much of that breakout. SHIB now trades below the former trendline while testing nearby support. The moving averages show a clear challenge for bulls. All four major EMAs currently sit above the market price. The 20-day EMA stands around $0.00000460.
The 50-day EMA sits near $0.00000463, creating an immediate resistance area. Above those levels, SHIB faces stronger hurdles. The 100-day EMA sits around $0.00000493. The 200-day EMA remains higher near $0.00000582. The Supertrend indicator also sits near $0.00000509. That indicator continues to show a bearish trend for now. Still, several signals suggest selling pressure could weaken.
Stochastic RSI has reset to zero, according to LuckSide Crypto. Such readings can precede recoveries after strong selling periods. A bullish Stochastic RSI cross would strengthen that argument. SHIB has also formed a descending wedge on the daily chart. The pattern approaches an apex later this week. Traders often watch such formations for a decisive breakout. A move above the wedge could improve the short-term outlook.
Long-term Holders Keep Building
The holder data provides another reason for optimism around SHIB. LuckSide Crypto reported record levels among long-term SHIB holders. Wallets holding tokens for at least one year reached an all-time high. Several longer-term groups also expanded together. Those groups include holders from one to two years. Two-to-three-year holders also increased during the period.
Older five-to-seven-year cohorts showed similar growth. Such behavior suggests stronger conviction among investors willing to hold longer. LuckSide compared the pattern with SHIB’s 2022 market structure. Long-term accumulation helped create a foundation for recovery during that period. Recent selling also came from one large wallet.
Short-term accumulation has also returned alongside stronger long-term participation. For SHIB, the next move depends heavily on key price levels. Bulls need to reclaim $0.00000460 and $0.00000463 first. A break above $0.00000493 could open the path toward $0.00000509. Meanwhile, losing $0.000004 could expose SHIB to deeper weakness. The current reset does not guarantee a rebound. However, technical compression and
