Shiba Inu is extending its downtrend after failing to break through a major resistance zone.

The Crypto Basic, a blockchain outlet, reported on July 6 that Shiba Inu remained below resistance near $0.0000046 and under its 100-period moving average, raising the possibility of further declines.

The key point is that the price structure remains bearish. From September 2025 to April 2026, Shiba Inu kept making lower lows and lower highs below a descending trendline. It then broke above the trendline once and tried to rebound by leaning on an uptrend line, but it slipped back below that line again in May, reaffirming bearish momentum.

The same pattern continued on the 4-hour chart. After sharp drops, brief rebounds were followed by renewed selling as the price retested resistance, giving back gains. In early June, it rose to around $0.00000558 but fell to $0.00000430 five days later. It also rebounded to $0.00000520 on June 15 and then declined again.

The latest rebound also stalled near $0.0000046, which had been a support level in the past. That area also overlaps with the 100-period moving average.

The market is watching whether it can reclaim that resistance zone as a short-term turning point. If the price fails to break above the 100-period moving average and the resistance band around $0.0000046, the bearish setup is likely to remain in place. Repeated failures near resistance show that buyers have yet to secure sustained control.

On the downside, the next support area was suggested near $0.0000010. That would represent another 77 percent drop from current levels. If it clearly retakes resistance and buying pressure continues, the bearish outlook could weaken. A confirmed break above resistance could also open the door to a stronger recovery.

On-chain indicators, however, are also sending a different signal from the price action. Whale investors appear to be continuing to accumulate Shiba Inu during the weak stretch. Over the past 24 hours, exchange net inflows and outflows shifted to net outflows. More tokens left exchanges than entered, with net outflows totaling 33.5 billion SHIB. That equates to about $146,207.

Exchange holdings also fell slightly to 86.9 trillion SHIB. A decline in exchange balances can reduce immediate selling pressure. It can also be read as a sign that more tokens moved to wallets likely to hold for longer periods.

Still, on-chain accumulation alone is not enough to say the bearish structure has changed right away. Shiba Inu is technically maintaining lower highs and lower lows, and a break above key resistance has not yet been confirmed. The next point the market is watching is whether whale accumulation leads to an actual trend reversal or merely temporary support within the existing decline.