- Shiba Inu broke major support, signaling increased bearish pressure.
- Analysts project a potential 77% price drop to $0.00000138.
- Parallel Channel breakdown suggests further downside if selling momentum continues.
Shiba Inu has flashed a warning signal that traders cannot ignore. Price action slipped below a major support line that held for years. That breakdown has raised fresh concerns across the market. Technical analysts now warn of a deeper correction. One forecast points to a sharp 77% decline from current levels. Traders now face a critical moment as bearish pressure builds.
SHIB Breaks Below Long-Standing Parallel Channel
Shiba Inu recently fell beneath the lower boundary of a Parallel Channel. Analyst Ali Martinez shared the chart update on X. The pattern shaped price movement for several years. Two parallel trendlines defined the structure. The upper line acted as resistance. The lower line served as support. During 2024, price tested the upper boundary several times. Each attempt faced rejection from sellers.
Momentum failed to break above resistance. That repeated rejection weakened bullish strength. Throughout 2025, SHIB moved sideways near the channel midpoint. Buyers and sellers battled for control. Volatility tightened as consolidation continued. Toward year end, price drifted closer to lower support. Selling pressure increased during that phase. Early 2026 brought further weakness. SHIB revisited the lower boundary again.
This time, buyers failed to defend the level. Price slipped beneath support and confirmed a breakdown. That move shifted sentiment toward the bearish side. Parallel Channel breakdowns often trigger extended moves. Traders watch such patterns closely. A confirmed breach usually signals trend continuation. In this case, direction points downward.
Analysts Eye $0.00000138 as Downside Target
Martinez identified $0.00000138 as a possible destination. That level sits roughly 77% below current price. The projection follows classic channel measurement rules. Analysts measure distance between upper and lower trendlines. They then apply that range after a confirmed breakout. Such projections do not guarantee outcomes. However, technical traders respect pattern symmetry. A breakdown of this scale often leads to strong follow-through. Market psychology also plays a role.
Once support fails, fear can accelerate selling. Current price action reflects cautious sentiment. Volume trends will matter in coming sessions. Sustained selling could validate the projected target. A strong rebound would challenge the bearish thesis. Traders now monitor support zones below current levels. Risk management becomes critical during volatile phases. Long-term holders may wait for stabilization signals. Short-term traders remain alert for momentum shifts.
SHIB now stands at a crossroads. Technical structure favors bears for now. A recovery above the broken channel would shift outlook. Until then, downside risk remains elevated. Market participants should track volume, structure, and broader crypto sentiment. Price action over the next few weeks may decide direction. For now, caution dominates discussion around SHIB.
