Shiba Inu (SHIB) Looks Dead, but History Says the Biggest Move May Be Next

Some think Shiba Inu is already finished. Months of weak price action, fading excitement, and another painful decline have convinced many that SHIB will never return to its former glory. That view has become more common as the meme coin continues to trade far below its previous highs.

James Wynn is one of those voices. He recently argued that SHIB would never come back, claiming the project’s developers focused on a cash grab around BONE and describing Shiba Inu as old, dead, and boring. Wynn added that nostalgia might bring the token back in 5 to 10 years, although he believes the next meme coin cycle will belong to something new.

That opinion sounds convincing at first glance. History, however, often tells a more complicated story. Another analyst believes the current weakness looks very familiar and could simply represent another phase that altcoins have gone through before major rallies.

SHIB History Shows Altcoins Often Spend Months Inside Accumulation Before Explosive Moves

SHIBMortal believes many investors focus too much on current price weakness and ignore the broader market cycle. His argument does not rely only on Shiba Inu. It looks at the total altcoin market capitalization excluding Bitcoin across several market cycles.

The attached chart compares 2015, 2018 to 2019, 2022 to 2023, and the current 2025 to 2026 period. Every previous cycle followed a similar sequence. Altcoins first formed a double bottom before creating higher lows. That phase eventually turned into a lengthy accumulation range where prices moved sideways and confidence remained low.

Once those accumulation periods ended, the altcoin market entered a powerful rally that lifted many cryptocurrencies over the following months.

SHIBMortal argues that today’s market once again sits inside that same yellow accumulation zone shown on the chart. Previous cycles looked frustrating before the breakout finally arrived. Altcoins bled lower, consolidated for months, and slowly built higher lows before buyers returned in force.

That does not guarantee history will repeat. Every market cycle has its own drivers. The comparison does show why some analysts believe current weakness does not automatically mean Shiba Inu is permanently finished.

Much of the pessimism that appeared during earlier cycles also faded once the broader altcoin market finally broke above its accumulation range. SHIBMortal believes SHIB could benefit again if the next altcoin expansion follows a familiar path.

SHIB Price Still Needs To Break Key Resistance Before Bulls Can Celebrate

Historical comparisons offer hope, although the SHIB price chart still presents several challenges.

A look at the Shiba Inu chart shows that SHIB has traded inside a descending wedge since 2024. The price currently sits close to the lower boundary of that pattern around $0.0000042. That position keeps sellers in control for now.

Current technical metrics continue to lean bearish. Bulls still need proof that the trend has changed before confidence can return.

The most important level sits near the upper boundary of the descending wedge. A breakout above roughly $0.0000067 would represent the first meaningful sign that buyers are reclaiming control. That move could attract fresh demand and open the door for a stronger recovery.

Such a breakout could also begin the journey toward deleting a zero from the SHIB price if bullish momentum continues.

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Much depends on the broader crypto market. Bitcoin and the rest of the altcoin sector will likely influence how far any SHIB rally can extend. Another meme coin cycle would also provide stronger conditions for sustained upside.

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