Shiba Inu’s recent price moves have been volatile, showing sharp upward spikes quickly followed by steep reversals, as whale activity points toward bearish sentiment.

After an initial surge backed by robust volume, SHIB faced heavy selling pressure, causing a pullback below crucial resistance zones between $0.00001450 and $0.00001600. Traders are now watching this range closely for signs of either a breakout or further consolidation.

On-chain data highlights a significant decline in whale participation, with netflows down 311% and active addresses dropping by 68% since December — clear signs that large holders are reducing their positions.

The current price action suggests SHIB remains trapped in a sideways channel. For a bullish turn, the price would need to break decisively above the descending resistance line near $0.00002044.

With just 17% of investors in the money and over 80% underwater, any upward move might be met with considerable selling pressure as holders look to exit or minimize losses.

Market sentiment is mixed. Some analysts highlight potential bullish patterns, while others warn the weakening fundamentals and on-chain indicators could keep the token under pressure in the near term.

Key Technical Points:

• SHIB found strong buying support at $0.00001417 late in the day, boosting early momentum.
• Heavy volume, exceeding $700 million, was recorded between 04:00-06:00, signaling aggressive buying.
• A sharp 1.77% retracement in the final hour indicates profit-taking after the rally.
• The moving averages show a bearish alignment, with price failing to reclaim the 50-day EMA.
• A descending channel pattern is visible on hourly charts, marked by lower highs and lower lows.
• A massive volume surge of over 110 billion coincided with a break below critical support levels, confirming selling pressure.