Shiba Inu (SHIB) Just Got Classified as a Commodity – Still Down 94% From ATH

Shiba Inu just got a massive regulatory boost. A recent classification now calls SHIB a commodity, not a security. That is huge news. But here is the part that makes people do a double take. The SHIB price is still down 94% from its all-time high. 

Crypto Patel put it perfectly: that is like skipping SHIB in 2020 because it is just a Doge copy. Those who held back then turned $10 into generational wealth. Now the chart is flashing a very similar setup.

What the SHIB Weekly Chart Actually Shows

We had a look at the SHIB weekly chart, and the structure is hard to ignore. The SHIB price closed the week at $0.000005898, down just 1.55% on light volume of 1.61 trillion tokens. That sounds like a lot of volume, but for SHIB, that is actually quiet. 

The real story is the two support zones marked on the chart. Support zone one sits right where price is now, near $0.0000055 to $0.0000060. Support zone two sits much lower near $0.0000019 to $0.0000025, a level that has not been touched since the last major bear market.

Crypto Patel calls this a massive accumulation zone on higher timeframes. The SHIB price has been bouncing between these two support zones for over a year now, and each test of the upper support zone has led to a move back toward $0.0000100 or higher. 

The bullish structure is forming right in front of us. Lower highs are starting to flatten out, and the weekly RSI has been coiling near oversold levels for months. That is exactly what happened before the last big run.

The Commodity Classification Changes Everything

The regulatory news is not just noise. A commodity classification removes a huge layer of uncertainty that has kept bigger players on the sidelines. The SHIB price has always moved on community hype and memetic energy, but institutional money cares about rules. 

Now that SHIB is officially a commodity in the eyes of regulators, the door opens for larger funds to at least consider a position. That does not mean a pump happens tomorrow, but it changes the long term ceiling.

Patel says a new all time high for SHIB is not a question, just a matter of time. That sounds bold for a token still 94% below its peak. But the weekly chart backs him up. The SHIB price has put in higher lows since the 2022 bottom. The current support zone near $0.0000058 has held multiple tests. And the commodity news adds a fundamental tailwind that did not exist during the last cycle.

Read Also: The Real Outlook For Hedera (HBAR) Holders In 2026: How Much Could Your Holdings Be Worth?

What’s Next for SHIB

For the SHIB price to really move, two things need to line up. First, a clean break above the descending resistance line that has capped every rally since 2024. That line currently sits near $0.0000085. 

Second, volume needs to return to the 3 trillion to 5 trillion range seen during previous breakouts. The current 1.61 trillion is enough to hold support, but not enough to launch a new leg up.

The accumulation zone is doing its job. Patient buyers are stacking SHIB near these levels while everyone else looks for the next shiny object. Crypto Patel says save this tweet. The chart says the same thing. The SHIB price is down 94%, but the setup is starting to look awfully familiar.

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The post Shiba Inu (SHIB) Just Got Classified as a Commodity – Still Down 94% From ATH appeared first on CaptainAltcoin.