Shiba Inu’s price declined 11.5% in a week as large holders sold their assets, mirroring a broader 13.5% drop for memecoins. A significant Bitcoin bounce triggered a 22.5% single-day rally for SHIB, but the longer-term trend remained bearish. Analysts identify key resistance levels up to $0.000009, suggesting the bounce could present a selling opportunity for traders.
Shiba Inu has faced significant bearish pressure alongside a declining memecoin sector. Data shows the asset lost 11.49% of its value over the past week as whales and large holders continued to offload their holdings.
A sharp 19% Bitcoin rally on Friday provided relief, lifting SHIB by 22.46% on the same day. Despite this bounce, the longer-term trend for the memecoin remained bearish at press time.
On the one-day chart, the market structure and momentum were firmly negative after SHIB made a new swing low. The bounce in recent trading hours could mark the start of a pullback, with the MACD indicator remaining deep within bearish territory.
Fibonacci retracement levels identified key resistances at $0.00000758, $0.00000817, and $0.000009 for a potential bounce. The first two levels also corresponded with daily imbalance areas that could act as supply zones.
Given the wider market sentiment and documented whale offloading, the analysis suggested traders could use a bounce to these levels to sell. The weekly chart revealed a bearish structure for SHIB since June 2025, reinforcing the downward pressure.
Shiba Inu’s price action is likely to mirror Bitcoin’s in the coming days, since BTC dictates market sentiment. An unlikely but possible bullish scenario could see SHIB test the daily swing high at $0.00001 if Bitcoin’s bounce continues strongly.
The overall conclusion pointed to a bearish trend likely to resume. A price bounce to higher levels is possible later in February, but the bearish trend is likely to resume thereafter.
