TLDR

  • Shiba Inu’s price has fallen below the critical support level of a Parallel Channel, indicating a potential downturn.
  • Analyst Ali Martinez forecasts that this breakout could lead to a 77% drop, with a target price of $0.00000138.
  • The cryptocurrency tested the upper trendline in 2024 and encountered resistance, prompting a decline toward the support line.
  • In 2025, Shiba Inu consolidated around the midline of the channel before slipping below the support level in 2026.
  • Breakouts from Parallel Channels often result in sustained movements in the direction of the breakout, making further downside likely.

Shiba Inu () has recently dropped below a key support level on its technical chart, raising concerns about a significant price decline. Analyst Ali Martinez has noted that the cryptocurrency’s price has fallen below the lower trendline of a Parallel Channel, which could trigger a downturn. According to Martinez, this breakout below the level could push Shiba Inu’s price down to $0.00000138, roughly 77% lower than its current value.

SHIB Breaks Key Support Line

In a recent update on X, shared a technical analysis chart illustrating Shiba Inu’s price moving below the support level of a Parallel Channel. The Parallel Channel has been a key feature in Shiba Inu’s price movement over the past few years. The pattern consists of two parallel trendlines, with the upper one acting as resistance and the lower one as support.

The breakout from the support line occurred after Shiba Inu tested the upper trendline multiple times in 2024 and faced rejection. During 2025, the cryptocurrency consolidated around the midline of the channel, but the price began declining toward the lower support line by the end of the year. This bearish price action has continued into 2026, with Shiba Inu failing to rebound when it tested the support level once again.

Shiba Inu Price Decline Target $0.00000138

Martinez has highlighted the $0.00000138 price level as a potential target following the recent breakout. This level is situated about 77% lower than the current price of , suggesting that further downside is possible. This target is based on the distance between the upper and lower trendlines of the Parallel Channel.

Parallel Channel breakouts typically lead to sustained moves in the direction of the breakout. As Shiba Inu’s price has slipped below the support line, a downward move of similar magnitude could occur.