Analyst Says When This Shiba Inu Breakout Happens, Youll Want a Piece of SHIB
Analyst Joey Keasberry called Shiba Inu chart one of the most unreal ones hes seen, adding that while a breakout hasnt happened yet, it could be just around the corner.Shiba Inu (SHIB) continues to trade within a wide consolidation range, suggesting long-term market engagement despite short-term price volatility. As of May 21, 2025, SHIB is priced at $0.0000145, marking a 0.7% increase over the past 24 hours. However, this minor gain follows a 9.1% decline over the previous week, pointing to lingering market caution. Still, recent analysis indicates that SHIB's broader market behavior may reflect a deeper accumulation phase rather than a typical downtrend.Shiba Inu Price Structure Remains Bound Within Long-Term RangeAccording to market analyst Joey Keasberry, SHIB has maintained a broad horizontal range between $0.0000050 and $0.00004 since its initial breakout in 2021. The asset has failed to breach either boundary, despite several attempts. In early 2024, price movements reached the upper resistance but could not establish sustained momentum beyond $0.000045. Keasberry, analyzing SHIB's long-term chart, noted that there are currently no signs of a breakout. However, he emphasized that when a breakout does occur, it could present a significant opportunity. He added that such behavior is typical in consolidation phases, where a volatility squeeze eventually leads to a breakout point, at which market participants tend to establish positions. https://twitter.com/birdseye88/status/1924040158325653734Technical Resistance Levels Define Next Critical MovesFurther multi-timeframe analysis by analyst eyma highlights essential resistance levels that now shape SHIB's short-term outlook. On the weekly timeframe, the token is consolidating after a downtrend extending from December 2024 into early 2025. SHIBs immediate resistance sits just above $0.000015, and a close above this level on the weekly chart would indicate a shift toward a more bullish structure.However, eyma emphasizes that a full confirmation would require a breakout past $0.000017. If both resistance lines are surpassed with a strong bullish candle, a path toward the $0.000030 mark could become viable. Failing to achieve this would likely trigger a return to lower demand areas, as no breakout would mean continued consolidation or retracement.On-Chain Data Signals Shift in Holder CompositionAlongside the technical observations, on-chain ownership data reveals a notable shift in SHIBs holder base. Whale wallets have increased holdings by 1.58% in the last 30 days, suggesting accumulation by larger investors.
Text source: The Crypto Basic
