Shiba Inu (SHIB) is showing a steady falling wedge pattern with the asset’s price being compressed by the descending trendlines from around $0.00003300 down to around $0.00000600 as of March 17, 2026.
According to the crypto analyst Butterfly, this pattern indicates weakening bearish momentum and points to an emerging bullish reversal as the selling pressure gradually subsides.
The price movement is contained within the range, with a recent push off the floor of $0.00000550 and a current range of $0.00000611. The price ceiling is located in the range of $0.00000800 to $0.00000950.
The decreased volume within the wedge is supporting the setup, as it confirms that volatility is decreasing as the price approaches the apex, where a decisive breakout or breakdown is expected in the near term.
The chart suggests a bullish breakout pattern with the intention of reaching higher levels by increasing the height of the wedge pattern, currently around $0.00002700, from the breakout area around $0.00000800.
This suggests a possible target around the $0.00002500 and $0.00002700 levels. However, there is always a possibility of dropping lower than $0.00000550 in case the resistance holds.
Also Read: Shiba Inu Whale Dumps 14.5B SHIB After 2 Years, Takes 83% Loss
RSI and MACD Reveal a Consolidation Phase
According to TradingView, the RSI is at 36.49, and the moving average is around 35.40. The momentum is low, and this is an area close to the oversold region.
Selling pressure is the dominant force in this token’s recent behavior, but the gentle flattening of the slope may be an indication that this token is stabilizing.
The MACD is close to zero, with the MACD line and signal line touching each other, and the histogram bars are minimal.
This indicates a pause in the momentum and a wait-and-see approach regarding the direction of the trend. This is a period of consolidation, and until further developments occur, strong bullish or bearish momentum is not possible.
Institutional Backing Boosts SHIB Outlook
Asset management firm T. Rowe Price, with $1.8 trillion in assets under its care, has submitted Amendment No. 2 for its Active Crypto ETF with the US Securities and Exchange Commission.
This moves SHIB onto the list of cryptocurrencies that are eligible for inclusion in the fund. Besides SHIB, other prominent cryptocurrencies included in the ETF are BTC, ETH, XRP, and LTC.
If approved, this actively managed fund would enable portfolio managers to make strategic investments in various cryptocurrencies, including Shiba Inu, as part of their diversified cryptocurrency portfolio.
Why This Matters
The token falling wedge pattern suggests a weakening in bearish pressure and a potential bullish trend that traders and investors should be aware of.
SHIB’s potential listing in T. Rowe Price’s Active Crypto ETF may impact its short-term market price due to potential investments in the cryptocurrency.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Shiba Inu Records $50K Short Liquidations in 24 Hours
