[DigitalToday reporter Yoonseo Lee] Shiba Inu is again showing a bearish chart similar to 2023, prompting a projection that it could fall about 20 percent more in the short term.

The Crypto Basic, a blockchain outlet, reported on Monday local time that Shiba Inu's current price action was analyzed as 91.2 percent similar to a decline pattern seen from April to June 2023.

The key is that the bearish structure is continuing after a break below support. Shiba Inu lost its key support level of $0.00000628 in May 2026 and failed to rebound. It has since continued to post lower lows and lower highs. This is interpreted as a sign that selling pressure is still driving the market.

The current price is also staying in a bearish zone. Shiba Inu fell below $0.0000042 and is now trading around $0.00000415. It is close to the lower end of a recently formed range.

Analysts said the current structure closely resembles the move from April to June 2023. At the time, Shiba Inu moved sideways for several weeks before breaking downward, then formed a local low. They said a similar sequence could be repeated this time. They also noted that while the 91.2 percent pattern match increases the credibility of a short-term bearish scenario, there is no guarantee it will follow the 2023 path exactly.

If the scenario continues, Shiba Inu could slide to a support zone of $0.0000032 to $0.0000033 between late July and August. Based on the current price of $0.00000415, that would be a drop of about 20 percent. The market is watching whether this zone will actually serve as a line of defense.

The outlook is not only for a decline. Another view projected that after testing the expected support zone, Shiba Inu could rebound to a range of $0.0000038 to $0.0000040 if buying returns and overall investor sentiment improves. For a stronger reversal, it would need to break back above resistance at $0.0000044 to $0.0000045, with the $0.0000055 to $0.0000056 area presented as the next target resistance zone.

Separate from short-term price moves, trading indicators improved slightly. Shiba Inu rose 3.23 percent over the past 24 hours and 3.69 percent over the past week. Twenty-four-hour trading volume also rose 7.58 percent to $55.46 million. Even with this rebound, it remains outside the top 30 by market capitalization. Shiba Inu's market value is about $2.46 billion, ranking 32nd among all cryptocurrencies.

In the end, there are two short-term points to watch. The first is whether the $0.0000032 to $0.0000033 support zone functions as an actual bottom. The second is whether it can regain resistance at $0.0000044 to $0.0000045 and break the bearish structure, which remains a factor that could determine the next move.