Shiba Inu (SHIB) has been one of the quieter major tokens in recent months. Over the past three months, the coin gained just 0.09%, essentially flatlining while other large-cap cryptos moved higher. At press time, the Shiba Inu price traded near $0.0000122, down 1.4% over the past 24 hours and nearly 7.2% lower on the year.
The reason for this lack of movement lies in on-chain signals — and those now suggest the rangebound structure may finally break, but with sellers in control.
Profit-Taking Patterns Explain the Rangebound Trade
The Percent Supply in Profit for SHIB sits at 24.3%, roughly midway between its historical local highs and lows. Rallies often fade when this metric pushes toward 37%, while sustainable bottoms tend to appear closer to 19%.
Sitting in the middle explains why the Shiba Inu price has been stuck in neutral (no net movement in three months) : enough holders are sitting on gains to trigger intermittent profit-taking, but not enough are in losses to fuel capitulation and new buying.
That balance has kept SHIB pinned in a narrow band.
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But the 4-hour chart now shows a bearish divergence, where the Shiba Inu price made a higher high while the RSI logged a lower high. Since RSI tracks momentum by comparing buying and selling pressure, this suggests that while buyers pushed the price higher, their strength was fading as profit-takers leaned in.
In simple terms, rallies are running into heavier selling than before, a setup that often precedes downside breaks.
Weak Withdrawals Underscore Waning Interest
Typically, rising withdrawals from exchanges indicate that investors are moving tokens into long-term storage. However, instead of examining raw outflows, the Exchange Withdrawing Addresses metric counts the number of unique addresses making withdrawals — a more accurate gauge of broad participation.
That number has collapsed to just 452, a one-year low.
Fewer addresses pulling coins from exchanges means there is little new buying interest. In other words, while SHIB’s price sits near cycle lows, traders don’t appear eager to accumulate. Unless this reverses, weak demand will add to the bearish pressure.
Lack of Buyers Threatens Shiba Inu Price Levels
With buying appetite fading and bearish divergence flashing, the price chart leaves SHIB vulnerable. Immediate resistance sits at $0.0000123, followed by a stronger barrier at $0.0000135. Only a breakout above $0.0000141 would invalidate the bearish case and signal an uptrend for the Shiba Inu price.
On the downside, a clean break under $0.0000119 could send the SHIB price toward $0.0000116 or lower, finally ending its rangebound phase but not in the way bulls would like.
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