Popular meme cryptocurrency Shiba Inu, better known as SHIB, has managed to dodge what its enthusiasts feared most: being stuck with another zero in its price. After a brutal “Black Friday” sell-off on October 10, the meme coin dipped below the $0.00001 zone. However, this decline was short-lived, as the following week SHIB found short-term footing around $0.0000102.

Despite this slight recovery, the bigger issue remains unchanged. Shiba Inu is still sitting approximately 70% below its price from last December, with a current market cap of around $6.9 billion. Meanwhile, whales continue to dump their holdings. At the start of the week, whale wallets contained about 21 billion SHIB tokens, but that number has surged to nearly 92 billion. Additionally, exchange balances increased to 276 trillion tokens compared to 275 trillion on Sunday, indicating that coins are still being moved to sell.

### SHIB Price Prints Bearish Pattern

A hidden bearish signal can be identified in the price chart, which presents a concerning descending triangle pattern. The support floor at $0.00001052 was tested multiple times—in April, June, and again during the October crash. This classic break-and-retest setup usually signals a further decline. If this pattern plays out, SHIB could potentially drop to $0.000006.

Currently, buyers have managed to hold the line and avoid another significant drop. However, whales continue to sell, on-chain metrics are declining, and the overall chart outlook remains unfavorable. While the recent bounce offers some hope, it may not last long.
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