An analyst has noted that Shiba Inu’s drop below the support line of a Parallel Channel could signal a potential decline toward $0.00000138.
Shiba Inu Breaks Below Parallel Channel Support
In a recent post on X, analyst Ali Martinez shared a technical analysis pattern that Shiba Inu appears to have broken. The pattern is a “Parallel Channel,” a consolidation channel formed when an asset’s price moves between two parallel trendlines.
The upper line typically acts as resistance, while the lower line serves as support. A breakout in either direction often leads to a sustained move.
Parallel Channels can be ascending, descending, or horizontal. In this case, the channel is horizontal, indicating a period of sideways movement for Shiba Inu.
The chart shared by Martinez shows Shiba Inu’s weekly price moving within this channel for several years. In 2024, the price tested the upper resistance twice but was rejected. Throughout 2025, it consolidated near the channel’s midline before declining toward support in the last quarter. The bearish trend continued into 2026, with the price breaking below support without a rebound, suggesting a potential channel breakdown.
Breakouts from Parallel Channels often result in moves equal to the channel’s height. Based on this, Martinez identified a possible target of $0.00000138, which would represent a drop of about 77% from current levels.
It remains to be seen how Shiba Inu will perform in the near term following this weekly chart development.
SHIB Price
At the time of writing, Shiba Inu is trading around $0.00000615, down 2% over the past week.
Frequently Asked Questions
FAQs Shiba Inu Price Drop Potential 70 Decline
BeginnerLevel Questions
1 What does it mean that SHIB fell below a key support channel
A support channel is a price range where an asset has historically stopped falling and bounced back Falling below it suggests that buying pressure has weakened significantly potentially opening the door for steeper declines
2 Why are analysts talking about a potential 70 drop
Technical analysts use historical patterns and chart levels to predict possible future movements The 70 figure is a projection based on where the next major support level might be if the current breakdown continues not a guaranteed outcome
3 Should I panic and sell all my SHIB immediately
Panic selling is rarely a good strategy This news is a warning signal not a command Its crucial to assess your own investment goals risk tolerance and the original reason you invested before making any drastic moves
4 What is a support level in simple terms
Think of it like a price floor Its a level where enough investors have historically been willing to buy preventing the price from falling further When that floor breaks it can trigger more selling
5 Could SHIB recover from this
Yes cryptocurrencies are highly volatile A recovery is possible if positive news brings in new buying pressure to reclaim the lost support level
Advanced Practical Questions
6 What specific chart pattern or indicator triggered this warning
Analysts are likely referring to a breakdown from a descending channel or a triangle pattern on the daily or weekly chart combined with a loss of a major moving average and declining trading volume confirming the bearish momentum
7 Where is the next major support if the 70 drop scenario plays out
This would depend on the specific analysis but it often points to a much lower price zone where the asset found stability in the distant past possibly aligning with the 2023 or even 2022 bear market lows
8 Does this analysis consider SHIBs onchain data and fundamentals
Typically this type of 70 drop warning is based purely on