Shiba Inu (SHIB) is trading in a narrowing range, forming a descending triangle on the four-hour chart as of May 28. The price is just above $0.0000146, and the pattern suggests a possible 17% move once it breaks out of this setup.
The triangle has been building for almost two weeks, with lower highs putting pressure on the market, while support near $0.0000143 continues to hold.
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This kind of structure often appears before a breakout or breakdown, and based on the technical formation, a move from the triangle's height could take SHIB either toward the $0.0000175 area or down to around $0.0000134, depending on which side breaks first.
Right now, the price is kind of stuck and the volume is low, which is usually a sign that the market is waiting for something to trigger it.
#ShibaInu $SHIB consolidates within a triangle, awaiting a 17% price move! pic.twitter.com/jdjMzVxtme
— Ali (@ali_charts) May 28, 2025So far in May, Shiba Inu has gained around 7.8% in 2025, which is a bit of a relief after a rough start to the year, with double-digit losses in January, February and March.
Right now, traders are being cautious as they approach the end of the month, given SHIB's performance in June, which has been negative, with average returns of -15.1% based on the last few years.
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The numbers from the last three months are a mixed bag. After dropping over 40% in Q1, SHIB has made a comeback with a 15.3% gain in Q2 so far. But that recovery has not gained much steam, and the price is still moving sideways inside the current triangle pattern.
With just a few days left in May and the chart tightening up fast, a breakout could happen soon. Market participants are keeping a close eye on this, as the resolution of this structure could help shape SHIB's direction heading into the summer.
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