TLDR
- Shiba Inu’s price has broken below the key support level of a Parallel Channel, signaling a potential decline.
- Analyst Ali Martinez predicts that the breakout could lead to a 77% drop, with a target price of $0.00000138.
- The cryptocurrency tested the upper trendline in 2024 and faced rejection, leading to a decline toward the support line.
- In 2025, Shiba Inu consolidated around the midline of the channel before slipping below the support in 2026.
- Parallel Channel breakouts often result in sustained moves in the direction of the breakout, making further downside likely.
Shiba Inu (SHIB) has recently broken below a key support level in its technical chart, raising concerns about a significant price drop. Analyst Ali Martinez has pointed out that the cryptocurrency’s price has fallen below the lower trendline of a Parallel Channel, which could trigger a decline. According to Martinez, the breakout below this level could send the price of Shiba Inu down to $0.00000138, approximately 77% lower than its current value.
SHIB Breaks Key Support Line
In a recent update on X, Ali Martinez shared a technical analysis chart that shows Shiba Inu’s price moving below the support level of a Parallel Channel. The Parallel Channel has been a key feature in Shiba Inu’s price movement for the last few years. The pattern consists of two parallel trendlines, with the upper one acting as resistance and the lower one as support.
Shiba Inu $SHIB appears to be breaking out of a channel, opening the door to $0.00000138. pic.twitter.com/fsV1j0uTcR
— Ali Charts (@alicharts) February 12, 2026
The breakout from the support line occurred after Shiba Inu had tested the upper trendline multiple times in 2024 and faced rejection. During 2025, the cryptocurrency consolidated around the midline of the channel, but the price began declining towards the lower support line by the end of the year. The bearish price action has continued into 2026, with Shiba Inu failing to rebound when it tested the support level once again.
Shiba Inu Price Decline Target $0.00000138
Martinez has highlighted the $0.00000138 price level as a potential target following the recent breakout. The level is situated about 77% lower from the current price of Shiba Inu, which suggests that further downside is possible. This target is based on the distance between the upper and lower trendlines of the Parallel Channel.
Parallel Channel breakouts typically lead to sustained moves in the direction of the breakout. As Shiba Inu’s price has slipped below the support line, a downward move of similar magnitude could occur.
