Shiba Inu’s Bullish Breakout Loses Steam—More Hype Than Bite?
Shiba Inu’s promised rally hits a wall—again. The meme coin that roared like a lion now whimpers like a pup, leaving traders wondering if it’s all bark and no bite.
The Bullish Mirage
After teasing a breakout, SHIB’s price action flatlines. Technicals suggest bullish momentum, but the charts don’t lie—this dog might need a new leash.
Traders Left Holding the Bag
Another day, another crypto ‘breakout’ that fizzles faster than a Wall Street analyst’s credibility. Meme coins giveth, and meme coins taketh away.
The Bottom Line
Until SHIB claws past key resistance, it’s just another speculative asset in a market that rewards patience—or reckless gambling. Choose wisely.
Big Holders Send Tokens To Exchanges; Add To The Selling Pressure
One key sign that explains SHIB’s struggle is the spike in exchange reserves. On July 28, exchange wallets hit a monthly high of 84.9 trillion SHIB. This means big holders have been sending more of their tokens to exchanges, likely preparing to sell.
Even though the reserves have dropped marginally at the time of writing, there are still a lot of tokens on exchanges to cascade a deeper correction.
This matches what was seen in earlier data showing large holder net flows turning negative. Whales are dumping tokens into the market instead of holding them in private wallets, creating extra supply and making it harder for SHIB’s price to rally.
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Money Flow Index Shows Fading Buyer Strength
The Money FLOW Index (MFI) tells us how much money is flowing in or out of a token, based on price and volume. In SHIB’s case, MFI has fallen sharply from 91 to 69 in just 10 days. This shows buyers are no longer putting in strong capital despite cheaper prices.
The Bull-Bear Power indicator (BBP) backs this up, showing that sellers have gained control of recent price action. While the bullish momentum kept weakening for a while, the long red bar clearly shows who is in control of the SHIB price action at the moment.
Even with SHIB trading inside a bullish wedge, the dip in MFI and stronger bear signals suggest buying demand is weak for now.
The Bull-Bear Power Indicator measures the strength of buyers versus sellers. It does that by comparing price action to a moving average. Positive values mean bulls are stronger, whereas negative values show bears are in control.
Shiba Inu (SHIB) Price Still Stuck In Wedge; Key Levels To Watch
SHIB’s price is holding inside a falling wedge pattern in the 2-day timeline. This setup often leads to a bullish breakout. But for now, the token is trapped near $0.0000130, with strong support at $0.0000128. If this level breaks, the next downside stops are $0.0000122 and then $0.000010. A dip below $0.000010 WOULD completely invalidate the bullish setup.
As SHIB’s price has moved sideways during the past few days, having a 2-day chart to keep the noise out makes sense.
On the other hand, a breakout above $0.0000158 (but $0.0000146 first) could finally give bulls control. And this could trigger a bigger rally, aligning with the wedge’s expected breakout direction.
