Shiba Inu Price Prediction: $28M Dump Looms as 2T SHIB Hits Exchanges

Shiba Inu (SHIB) is feeling the pressure. Its price recently slipped to around $0.00001359, marking a sharp 5.8% drop in just 24 hours. The market cap has dipped to $8.44 billion, with 24-hour trading volume hovering at about $180 million. What’s more concerning? Recent data shows a staggering 2 trillion SHIB tokens have been moved onto exchanges over the past month. This influx has pushed the total exchange-held supply from 139 trillion to 141 trillion—translating to over $28 million worth of tokens poised for potential selling pressure.

• Market Cap: $8.44 billion

• 24-Hour Volume: $180 million

• Daily Price Range: $0.0000141–$0.0000146

Technical Patterns Spell Trouble for SHIB

On the charts, SHIB has broken below its 50-EMA at $0.00001425, signaling mounting bearish momentum. The descending triangle pattern, capped by a steep trendline, points to continued downward pressure. Recent bullish attempts failed—marked by spinning tops and long upper wicks—before a decisive bearish engulfing candle broke below the 0.382 Fibonacci retracement at $0.00001368.

The MACD indicator confirms the bearish outlook, showing a deepening negative histogram and a bearish crossover. If SHIB breaks below $0.00001344, it could open the door to further declines toward $0.00001306 or even $0.00001270.

For traders looking to ride the trend:

• Short Entry: Below $0.00001340, with a stop above $0.00001425.

• Targets: $0.00001306 and $0.00001270.

• Bullish Reversal: A sharp rebound above $0.00001425, backed by confirmation, could push the price toward $0.00001460 or higher.

Investor Takeaway: Stay Cautious

The surge in SHIB tokens on exchanges, coupled with sustained bearish momentum, paints a challenging picture for the token’s near-term outlook. Unless a strong bullish catalyst emerges—like a spike in demand or positive market news—SHIB could continue its downward slide.

• On-chain data shows increasing selling pressure.

• Technical patterns signal more downside unless strong demand reverses the trend.

• Traders should set clear risk levels and watch for reversal signals.

For cautious traders and long-term holders, it’s a wait-and-see game. Stay vigilant, monitor support levels, and be prepared for potential volatility.