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SBI, Rakuten and Nomura Prepare Crypto Investment Trusts in Japan

By Yahya Raza Sherazi | Edited By Ammar Raza,May 17, 2026, 1:41 PM

Japan’s major brokerages are preparing crypto investment trusts for retail investors as regulators move toward clearer rules. SBI Securities and Rakuten Securities are developing products, while Nomura and other firms plan to enter once the regulatory framework is later finalized.

According to a Nikkei report, SBI Securities intends to sell funds established by SBI Global Asset Management. The products will be ETFs and investment trusts focused on liquid assets such as Bitcoin and Ethereum. The SBI intends to handle both development and distribution internally.

Also Read: Japanese Yen Stablecoin Planned for Ethereum and Japan Open Chain

Crypto Investment Trusts Could Widen Retail Access

Rakuten Securities is working with Rakuten Investment Management on a similar route. The planned crypto investment trusts would be available through smartphone trading apps. Investors could use securities accounts instead of crypto exchanges or wallets.

This change could open up opportunities to regular investors in Japan. To purchase digital assets now requires separate platforms and custody steps. Investors could buy exposure in crypto investment trusts, which would place it inside brokerage channels and remove one hurdle for retail clients.

Other major financial groups are preparing their plans. According to a Nikkei report, Nomura and Daiwa have started working on crypto investment trusts at the group level. SMBC Group and its securities firm, SMBC Nikko Securities Inc., are preparing for a cross-group task force to review options.

Asset Management One, which also belongs to Mizuho Financial Group, has conducted some initial preparations as well. The activity demonstrates brokers hoarding ahead of rule changes. Nonetheless, product launches are conditional on the last step in the regulation process.

Japan FSA Moves Toward Clearer Crypto Trust Rules

The Financial Services Agency of Japan is filing a revision or amendment to the enforcement order of the Investment Trust Act by 2028. 

The amendment would add cryptocurrencies to the list of assets that investment trusts are permitted to hold. Last month, Japan reclassified crypto-assets as financial instruments.

The change put crypto in the same general framework as stocks and bonds. Should the legislation pass in the current parliamentary session, it’s planned to begin in fiscal 2027. Japan is also seeking to put in place rules that would allow crypto ETFs by as early as 2028.

SBI Holdings had proposed a Bitcoin-XRP dual ETF and also a gold-crypto ETF, waiting to be approved. These represent a wider effort to prepare the way for crypto investment trusts in Japan.

Also Read: Harvard Endowment Exits Ethereum ETF, Reduces IBIT Holdings by 43%

Filed Under: Cryptocurrency News

Litecoin Price Prediction: Can LTC Surge 543% After Recent Pullback?

By Mishal Ali | Edited By Messam Raza,May 17, 2026, 1:00 PM

Litecoin (LTC) pulled back after failing to sustain its breakout attempt, while technical indicators showed weakening momentum and persistent bearish pressure for the Litecoin price. Meanwhile, declining open interest and trading volume reflected cautious trader sentiment and reduced market participation amid ongoing volatility. According to CoinMarketCap, LTC is trading at $56.22 with a daily decline of 1.09%.

Litecoin current price

Source: CoinMarketCap

LTC Derivative Data Point to Declining Strength

According to Coinglass, the LTC open interest fell by 3.24%, reaching $355.05 million and reflecting a moderate reduction in outstanding derivative contracts. The decline may signal profit-taking, reduced speculative activity, or cautious sentiment among participants. Traders appear less willing to maintain leveraged positions amid volatility.

Litecoin open interest and volume

Source: Coinglass

Trading volume declined by 21.05%, settling at $274.22 million. The drop suggests reduced market participation and weaker short-term momentum among investors. Lower activity levels often indicate caution, uncertainty, or temporary consolidation as traders reassess positions.

Also Read: Litecoin Price Analysis: LTC Price Action Shows Signs of a Strong Rally Toward $285

Litecoin Price Eyes Major Breakout With $388 in Focus

Furthermore, the crypto analyst Javon Marks highlighted that the Litecoin price seems to be preparing for an extended base that could last in the future, an environment that is often compared to Litecoin’s exciting breakout move in 2021. After being stuck in sideways price action for some time, traders feel that the Litecoin price is building up momentum under persistent resistance levels.

Litecoin price prediction

Source: Javon Marks’ X Post

The bulls now have a target of $388 in play, which is an indication that there is more than 543% room for growth in terms of profit from current prices. 

This growing confidence in Litecoin comes against the backdrop of increased investment interest in already established altcoins due to positive developments in the crypto world.

Technical Indicators Support Bearish Trend

According to TradingView, the Litecoin price is moving in a tight consolidation zone with the price ranging from $52.00 to $56.00 until an early-May breakout that proved to be only temporary. 

The Litecoin price broke through the 20 and 50 EMAs and reached a peak of close to $63.00 without managing to breach the 100 EMA barrier, retreating back to $56.22.

Litecoin technical analysis

Source: TradingView

Technically, signs of weakening bulls prevail. Bearish sentiment prevails overall, with the long-term moving average (200-day EMA) comfortably placed above at $67.04. 

On the other hand, the relative strength index has crossed below its yellow line to 48.06. Moving under the midline of 50 shows that sellers have taken charge as the Litecoin price battles to maintain its upward path.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Litecoin Price Nears Key Resistance While Quiet LTC Accumulation Expands

Filed Under: Cryptocurrency News, Altcoin News, Litecoin (LTC)

Dogecoin Price Signals Major Breakout Potential as DOGE Targets $0.15

By Bena Ilyas | Edited By Ammar Raza,May 17, 2026, 12:00 PM

Dogecoin (DOGE) price is maintaining a sideways pattern amid a choppy momentum in the cryptocurrency market. Even though there may be little action currently in the short term, the current price configuration makes it clear that the Dogecoin price may be on the verge of breaking out in the coming sessions.

At the time of writing, DOGE is trading at $0.1105, with a daily trading volume of $1.29 billion and a market capitalization of $18.73 billion. DOGE experienced a slight gain of 1.23% over the last 24 hours, suggesting that the digital currency is holding steady despite the reduced level of market activity.

DOGE price chart
Source: CoinMarketCap

Also Read | Solana Price Faces Crucial Retest as Breakout Momentum Targets $120 and $145

Dogecoin Price Eyes Potential Breakout

On May 17, 2026, crypto analyst BitGuru noted that he remains attentive to DOGE since the pattern indicates that there is a significant consolidation period after a liquidity flush and decline. In his view, if the momentum continues to improve from the current level, the Dogecoin price can eventually reach the $0.13-$0.15 range.

DOGE price chart
Source: BitGuru’s X Post

This analysis highlights that Dogecoin’s price is at a critical stage when both buyers and sellers are vying for market supremacy. The meme currency will have to break out of its consolidation range to generate significant bullish momentum and attract investor attention once again.

DOGE Derivatives Cool as Investors Pull Back

Meanwhile, information on the derivatives market indicated slower movement within the last 24 hours. Open interest fell by 0.79% to $1.52 billion, while volume plunged by 39.17% to $1.62 billion. The reduction in volume indicates that many market players are being cautious amid ongoing uncertainties in the cryptocurrency industry.

DOGE open interest and volume chart
Source: Coinglass

Even when there was less trading going on, the funding rate for OI still remained positive at 0.0006%. This means that even if there is less leveraged trading going on, some traders believe that the Dogecoin price will rise soon.

DOGE OI Weighted chart
Source: Coinglass

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Ethereum Price Prediction Shows Over 110% Upside Toward $4,800 Breakout Zone

Filed Under: Cryptocurrency News, Dogecoin (DOGE)

Zcash Price Breaks Above $513 as Bullish Structure Signals Continued Upside

By Bena Ilyas | Edited By Messam Raza,May 17, 2026, 11:00 AM

Zcash price has strengthened its short-term structure after breaking out of a prolonged consolidation phase, with buyers gradually regaining control. Zcash (ZEC) trend reflects improving momentum supported by rising trading activity and a shift toward bullish market behavior, signaling potential continuation in the current uptrend.

Currently, the Zcash price is trading near the $517.12 level, which shows a 4.00% increase in price compared to the previous trading period. ZEC is recording high daily trading volumes of over $1.37 billion and currently has a market capitalization near the $8.56 billion level, accounting for 0.33% of the cryptocurrency market.

Zcash price chart
Source: CoinGecko

Also Read | SHIB Price Nears Breakout Zone as Falling Wedge Signals Major Move Ahead

Zcash Price Invalid Below $294 Level

A recent post shared by Crypto Patel on X highlights a bullish technical setup forming in Zcash, suggesting the asset may be positioned for a potential upward continuation. According to the analysis, ZEC has reacted strongly from a weekly fair value gap, followed by a market structure shift (MSS) that confirms a possible reversal in trend. 

Zcash price analysis
Source: Crypto Patel’s X Post

In addition, the Zcash price seems to be in a retracement phase, moving towards the order flow or the discount zone, which means buyers are likely accumulating the asset. Moreover, the analysis has spotted high-time frame liquidity above current levels and upside targets around $643 and $750 if the bullish setup persists.

However, the setup carries a defined invalidation level at a daily close below $294, which would negate the current bullish outlook for the Zcash price. Overall, the analysis suggests that ZEC may remain biased to the upside, but only if price confirms support within the retracement zone and maintains structural strength.

ZEC Reclaims Bullish Momentum

ZEC price continues to exhibit a bullish trend as it recovers from a flat correction that has been taking place for the past week. The latest developments indicate the emergence of renewed bullish momentum amid increasing buying activities.

Zcash technical price analysis
Source: TradingView

A key technical development is the reclaiming of a significant VWAP zone, which often acts as a dynamic support and trend-defining level. Moreover, the ZEC price has breached the 1.272 Fibonacci extension of the prior A-B wave, which means further continuation potential should be observed.

If the current bullish setup remains intact, market conditions suggest the possibility of further upside momentum in the near term. The next target for buyers appears to be near the $650 price region, as long as the price stays above the VWAP zone.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | FARTCOIN Price Analysis: Failed Breakout And Weak Support Raise Downside Risks

Filed Under: Cryptocurrency News

Harvard Endowment Exits Ethereum ETF, Reduces IBIT Holdings by 43%

By Bena Ilyas | Edited By Messam Raza,May 17, 2026, 10:14 AM

Harvard Endowment has significantly reduced its exposure, with Harvard University exiting its Ethereum ETF position while also trimming its cryptocurrency ETF holdings, according to released SEC 13F filings. The institution lowered its holdings in BlackRock’s iShares Bitcoin Trust ETF by nearly 43%, cutting its position to 3,044,612 shares valued at approximately $117 million during the reporting period.

The latest reduction followed a previous decrease reported during the fourth quarter of 2025, when Harvard trimmed its IBIT holdings by roughly 21%. The filing also revealed that the university completely exited its position in BlackRock’s iShares Ethereum Trust ETF, liquidating shares previously valued between $86.8 million and $87 million before the first-quarter adjustment period.

Q1 2026 SEC 13F filings
Source: sec.gov

Also Read | Aptos Price Prediction: APT Liquidity Sweep Suggests Potential Rally Toward $1.24

Institutional Investors Rebalance Ethereum ETF Exposure

Mubadala Investment Company increased its investment in Bitcoin ETF during the same quarter. The company raised its IBIT shareholdings to 14,721,917 units with an estimated value of $566 million, compared to 12,702,323 reported at the end of Q4 2025.

These adjustments were made during re-positioning in response to fluctuations in the market and Bitcoin being traded below $78,000. In a filing dated May 14, Harvard Management Company reported that Harvard University reduced its investment in the Bitcoin ETF while selling out its entire investment in its Ethereum ETF position.

Other U.S. university endowments also disclosed changes to their cryptocurrency-related investments through recent SEC filings. Dartmouth College maintained its shareholding of 201,531 units in BlackRock iShares Blockchain and Tech ETF with an estimated valuation of more than $9 million. The college replaced Ethereum shares with shares in the Grayscale Ethereum Staking ETF and purchased 304,803 shares in the Bitwise Solana Staking ETF.

University Endowments Maintain Crypto Market Exposure

Brown University retained its existing 212,500 shares in the iShares Blockchain ETF without reporting changes during the quarter. Meanwhile, Emory University streamlined its Bitcoin-related exposure by exiting a smaller IBIT position while increasing holdings in the Grayscale Bitcoin Mini Trust to 1,354,148 shares, according to the latest institutional investment disclosures.

According to Harvard University’s Q4 2025 filing, the university initially owned approximately 5.35 million IBIT shares, amounting to $265.8 million. However, institutional investments in ETFs and Ethereum ETF products remain popular despite recent adjustments due to fluctuating prices.

Also Read | Chainlink Price Tests Crucial Support as Bulls Eye $10.86 and $11.85 Targets

Filed Under: Cryptocurrency News, Ethereum (ETH)

ONDO Price Breakout Signals Strong Move After $2 Billion Surge in Market Cap

By Sajjal Ali | Edited By Ammar Raza,May 17, 2026, 10:00 AM

ONDO price is gaining attention after Niels pointed out a rapid increase in tokenized market value. In just one month, the project added $2 billion, lifting total assets from $1.18 billion to over $4.4 billion within eight months.

The consistent increase signifies a growing trend towards the tokenization of tangible assets as well as a growing involvement of major stakeholders in on-chain financing.

ONDO rapid increase in tokenized market value

Source: X

The consistent inflow indicates that the price of ONDO has gone beyond estimates and reached the stage of adoption where the larger stakeholders are participating.

According to market observers, such trends of growth come into being when the newly established financial system begins to develop trustworthiness and liquidity among both retail customers and institutional investors.

Also Read: XRP Price Breakout Above $1.56 Could Trigger Strong Upside Rally Move

ONDO Price Breakout Structure and Technical Levels

The price pattern indicates that the ONDO price has made a breakout from its lengthy period of multi-month consolidation at $0.26 to $0.30.

Such a breakout can signal that the accumulation process might be complete and buyers have started gaining control after an extensive selling period.

The ONDO price has been subjected to heavy resistance at $0.95, which resulted in a long downtrend until it eventually stabilized in a narrow range.

ONDO Price Breakout Structure and Technical Levels

Source: X

The traders are now focusing on the area between $0.45 and $0.48 as the key level. The ONDO price can either maintain its uptrend from here onwards, or it can be rejected yet again.

As long as the price manages to remain above the previous high at $0.30-$0.31, the chart points towards an ongoing uptrend until the next resistance zones. However, if the price fails to hold above these zones, a drop back to the previously traded range is imminent.

Liquidity, Heat, and Market Positioning

The recent blockchain activity reported by Nazoku reveals that a wallet linked to Ondo Finance transferred 5.12 million ONDO (roughly equivalent to $1.76 million) to Coinbase. This is causing traders to be wary for the near future.

Liquidity, Heat, and Market Positioning

Source: X

Currently, the ONDO price sits close to the $0.34 support line, and the liquidity heat map reveals clusters on both buy and sell sides.

There is a $30 million liquidation pool close to $0.337, while there is a $24 million cluster close to $0.35. This makes for a small region that will experience volatility.

Liquidity, Heat, and Market Positioning

Source: X

The market makers and traders who use leverage find themselves in a delicate position, such that small price changes may cause substantial liquidations from either side. It results in sudden price spikes as it tries to eliminate liquidity to form a trend.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: DASH Price Could Surge Toward $143 if Bulls Maintain Key Support Level

Filed Under: Cryptocurrency News

Ethereum Price Prediction Shows Over 110% Upside Toward $4,800 Breakout Zone

By Sajjal Ali | Edited By Ammar Raza,May 17, 2026, 9:00 AM

Ethereum price is again drawing attention after market watcher Javon Marks highlighted a hidden bull divergence on the monthly chart.

According to the analysis, ETH has the potential to bounce back to recover more than 110 percent above the $4,811 price mark. The Ethereum price prediction has room for gains if the trend remains robust.

If such a breakout occurs, it would put the $8,500 figure on the agenda for the next wave of expansion. The following chart illustrates the larger market trajectory of Ethereum price from its 2020-2021 bull run, when it reached around $4,800.

Once it had reached the peak in that particular cycle, ETH fell heavily during the bear market of 2022. This decline brought an end to risky bets and affected the entire sentiment in the crypto space. Later on, the price stabilized between $1,200 and $1,600.

Ethereum price analysis
Source: X

The zone has become an important location for accumulation since the sell-side pressure was reduced, while ETH remained in an extended sideways consolidation pattern with several rounds of rallying and retracing.

Currently, such a structure is considered a possible phase of reaccumulation, associated with the initial stages of a bullish trend in the Ethereum price prediction.

Also Read: FET Price Outlook: Can Buyers Break Resistance and Reach $0.60?

Ethereum Price Prediction Signals Long-Term Recovery

One major technical clue is the uptrend line, which indicates that buyers are always there to buy whenever there is a dip. Ethereum has not yet broken out; it does not matter because the pattern is not a strong bearish one like in 2022.  

Instead, the setup points to a transition from accumulation toward expansion, supporting the ongoing Ethereum price prediction.

The resistance at the level of $4,891 is the first major resistance for Ethereum because many investors will sell off their holdings.

If the price surpasses the level of $4,891 and manages to maintain its position at the new level, the upward momentum might accelerate. The long-term target of $8,557 is based on the cycles seen previously.

$35 Billion ETH Open Interest Raises Volatility Concerns

On the other hand, crypto analysis firm Alphractal indicated that the open interest position for Ethereum at global exchanges increased from $34.97 billion to $35.61 billion, causing high leverage to be closer to the peaks reached in 2025.

$35 Billion ETH Open Interest Raises Volatility Concerns

Source: Alphractal

It also highlighted that funding rates became negative lately amid a significant amount of positioning activities.

Meanwhile, the spot Ethereum ETFs have amassed close to $14 billion in investments this year, bringing in much institutional investment. As a result of increased leverage, bearish momentum decline, and strong ETF inflows, the upcoming movement of Ethereum may become very volatile.

$35 Billion ETH Open Interest Raises Volatility Concerns

Source: Alphractal

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: VIRTUAL Price Faces Resistance at $0.80: Can Bulls Push It Toward $1 Target?

Filed Under: Cryptocurrency News

Solana Price Faces Crucial Retest as Breakout Momentum Targets $120 and $145

By Zagham Abbas | Edited By Ammar Raza,May 17, 2026, 3:00 AM

Solana price is currently in a critical technical stage that entails a test of a crucial breakout level. There are indications of downward pressure in the market, though bulls are fighting to hold onto support levels despite breaking out of a technical formation.

This retest will be critical in determining whether the breakout momentum holds strong. If the support remains firm, Solana may move higher in the future sessions.

At the time of writing, SOL is trading at $86.20, marking a 5.63% drop over the last 24 hours. Despite the decline, market activity remains significant, with 24-hour trading volume at $5.47 billion and market capitalization at $49.82 billion, showing that interest in the asset is still active even during weakness.

Solana price chart

Source: CoinMarketCap

Also Read | Dogecoin Price Could Rebound Toward $0.15 if Buyers Regain Momentum

Solana price Tests Key Retest Zone After Breakout

On May 16, 2026, crypto analyst Jonathan Carter reported that the Solana price was in the process of going through an essential technical stage, during which a descending triangle retest would take place. The Solana price had previously broken out of the pattern, and it had come back to retest the old resistance level, which now acts as a support level on the daily time frame.

Solana price Tests Key Retest Zone After Breakout

Source: Jonathan Carter’s X Post

The movement of the market in relation to this area indicates consistent resistance by the buyers, with the Solana price remaining above the breakout point despite the presence of sellers. This implies that there is still buying interest in the current prices, notwithstanding the volatility.

In case this support area holds, Solana price might consider testing its luck towards a more meaningful bullish move, targeting levels of $98, $120, and $145.

Market Activity Slows as SOL Moves Sideways

However, a larger analysis of trade figures indicates lower participation in the market. The volume is down 11.69% at $9.60 billion, while the open interest is down 3.58% to $5.68 billion. This suggests a decline in participation in both the spot and derivatives markets as the Solana price consolidates.

Market Activity Slows as SOL Moves Sideways

Source: Coinglass

In addition to this, the open interest weighted funding rate is 0.0047%. This means that the SOL price is balanced since the rate shows that there isn’t any particular trend being developed in favor of the long position or the short position.

Market Activity Slows as SOL Moves Sideways

Source: Coinglass

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Grayscale and VanEck Update BNB ETF Filings as SEC Review Intensifies

Filed Under: Cryptocurrency News

Chainlink Price Tests Crucial Support as Bulls Eye $10.86 and $11.85 Targets

By Zagham Abbas | Edited By Ammar Raza,May 17, 2026, 2:00 AM

Chainlink price is currently experiencing downward pressure in the short term because of the loss of its previous momentum. Nevertheless, Chainlink’s price is currently trading within an important demand level that might assist with a potential reversal.

At the time of writing, LINK is trading at $9.65, with a 24-hour trading volume of $482.32 million and a market capitalization of $7.03 billion. The Chainlink price has fallen 6.38% over the last 24 hours, showing short-term pressure after failing to hold recent gains.

LINK price chart

Source: CoinMarketCap

Also Read | Hyperliquid (HYPE) Price Eyes $100 Target Amid Strong Bullish Momentum

Chainlink Price Signals Potential Reversal

As highlighted by crypto analyst Crypto Patel, on May 16, 2026, the pattern is still in the process of creating a bullish formation. The reason for this assertion is that he feels that the Chainlink coin price has undergone a change after the CISD pattern and is currently retracing towards the breaker block region.

Chainlink Price Signals Potential Reversal

Source: Crypto Patel’s X Post

The retracement is also following the inefficiency fill zone (IFVG), with liquidity still positioned above. This leaves room for further upside retracement should support hold out.

The upside targets for LINK price to consider are at $10.86 and $11.85. It is important to note that such an assessment will no longer be valid in case Chainlink closes below $8.90 on its daily time frame.

LINK Price Momentum Slows as Indicators Turn Weak

The recent developments indicate that the Chainlink price has lost momentum following the recent upsurge in price. The Relative Strength Index has come down to 47.87, indicating that the buying pressure has decreased considerably. The price of Chainlink is trading around $9.66, having witnessed a fall of 4.03% for the day.

LINK Price Momentum Slows as Indicators Turn Weak

Source: TradingView

MACD also acts as an additional confirmation of momentum deceleration. In fact, the current level of MACD stands at 0.24915, but the histogram has dropped to the level of -0.02208. This can indicate that further decline will put Chainlink’s price near support levels ranging from $9.35 to $9.13.

Outlook for LINK Price

Overall, the LINK price finds itself at a critical crossroads. Although there are negative technicals in play for the short term, the overall pattern as seen from the chart provided by Crypto Patel hints at a potential turnaround if certain levels hold.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | XRP Price Builds Long-Term Setup as Fibonacci Extensions Target $8

Filed Under: Cryptocurrency News

SHIB Price Nears Breakout Zone as Falling Wedge Signals Major Move Ahead

By Zagham Abbas | Edited By Ammar Raza,May 17, 2026, 1:00 AM

Shiba Inu (SHIB) price is at a very crucial stage from a technical point of view, with short-term indicators exhibiting weakness along with the build-up of selling pressure. The falling wedge pattern on a larger timeframe continues to develop, and the focus remains on a potential breakout.

At the time of writing, SHIB is trading at $0.000005873 with a 24-hour trading volume of $135.50 million and a market capitalization of $3.47 billion. The Shiba Inu price has fallen by 5.67% over the last 24 hours, reflecting continued short-term selling pressure across the market.

SHIB price chart

Source: CoinMarketCap

Also Read | Aptos (APT) Price Forecast: KRW1 Integration Boosts Bullish Case Toward $1.24

SHIB Price Nears Breakout Zone Setup

Despite its recent weakness, a crypto analyst, Butterfly, observed on May 16, 2026, that the Shiba Inu price remains within the confines of a descending wedge formation in the three-day chart. The descending wedge pattern usually signals a potential turnaround if the price breaks the upper trendline.

SHIB Price Nears Breakout Zone Setup

Source: Butterfly’s X Post

According to Butterfly, the trend is currently valid, and the price action of the Shiba Inu has displayed the potential for slow accumulation as the buyers are trying to take control back. With a confirmed breakout, the SHIB price can rise towards resistance levels.

Shiba Inu Price Shows Weak Momentum in Indicators

From technical indicators, it is evident that there is downward pressure on the price of the Shiba Inu. The value of the RSI (14) has moved to 39.13, which is lower than the value of the signal line of 55.34.

The decrease indicates that the strength of buying power is weakening, and the price of Shiba Inu is approaching the oversold zone. The SHIB price continues to float around $0.00001, while the moving average ribbon is flat.

SHIB price analysis

Source: TradingView

Bearish signals from the short-term momentum oscillators further support the weak price action in Shiba Inu’s price. Specifically, we have a bearish crossover where the MACD line crosses below the MACD signal line, with the histogram showing bearish bars. If this pattern persists, it could mean that the Shiba Inu price may not easily clear its resistance zones.

Overall, the SHIB price remains at a critical point where there is a bullish wedge formation on the long term, while short-term factors favor buyers unless there is a shift in momentum.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read |Dogecoin Price Could Rebound Toward $0.15 if Buyers Regain Momentum

Filed Under: Cryptocurrency News, Altcoin News

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