SHIB INU (SHIB) Forms Falling Wedge, Eyes 39% Breakout Toward $0.00001993

The SHIBA INU (SHIB) 4-hour chart from May 19, 2025, reveals a falling wedge pattern. This formation is visible through two converging downward-sloping

SHIBA INU (SHIB) is showing key technical and on-chain signals that could shape its next major move. Let’s examine further.

SHIB Forms Falling Wedge, Eyes 39% Breakout Toward $0.00001993

The SHIBA INU (SHIB) 4-hour chart from May 19, 2025, highlights a falling wedge pattern. This formation is evident through two converging downward-sloping trendlines, drawn from the May 11 peak toward the most recent lows.

A falling wedge is a bullish reversal pattern where price makes lower highs and lower lows within narrowing trendlines. It typically signals that bearish momentum is weakening and a breakout to the upside may follow.

If SHIB confirms a breakout above the wedge’s resistance near $0.00001484, the price could rally approximately 39% from the current $0.00001433 level. This breakout could potentially send SHIB to the $0.00001993 mark.

The chart also shows that SHIB previously surged in early May before consolidating within this wedge. Volume declined during the wedge formation, which aligns with typical wedge behavior.

At the same time, the 50-period Exponential Moving Average (EMA) sits just above the current price, near $0.00001484, acting as resistance.

The Relative Strength Index (RSI) has moved from oversold territory toward the neutral 50 line, now reading at 44.25. This shift suggests early bullish momentum.

SHIB Whale Count Slips Again, Hinting at Waning Confidence

The number of Shiba Inu (SHIB) whales—wallets holding at least 1 billion tokens—has slipped to 10,205, a minor decrease from 10,232 just nine days ago.

This decline, although slight, continues a broader pattern of gradual decrease in large-holder participation. According to Santiment, these large addresses play a crucial role as they can influence SHIB’s price direction due to high-volume transactions.

At the same time, the overall trend has remained negative despite occasional upticks. Fewer whales could reflect a lack of interest from major players in the market.

Without new inflows from retail buyers or fresh investors, the reduced whale presence may hinder potential price momentum for SHIB.