Despite ongoing sell pressure from large holders, Shiba Inu (SHIB) is drawing attention once again. Even as whales appear to be capitulating, technical analysis suggests SHIB may be preparing for a major 52% rally.
SHIB Gains Slightly While Whales Retreat
As of June 25, SHIB has posted a modest gain and is currently trading at $0.00001175, which is 15% above its weekly low. This uptick coincides with a slight recovery across the broader crypto market.
While many whales (large SHIB holders) have been reducing their positions, the market structure hints that Shiba Inu may be setting up for a bullish reversal.
Double Bottom Formation Points to Potential 115% Upside
The daily chart shows that SHIB dropped 35% from its May peak of $0.00001765, landing around $0.00001172.
What’s notable is that SHIB has now formed a double bottom — a bullish chart pattern that often signals trend reversal. The key “neckline” resistance stands at $0.00001765.
🔹 Height of the pattern = $0.0000074
🔹 Target price = neckline + height = $0.00001765 + $0.0000074 = $0.000025
This implies a potential 115% rally, with the initial breakout target at $0.00001765, or 52% above current levels.
MACD and RSI Send Bullish Signals
Momentum indicators back this bullish scenario:
🔹 MACD has triggered a bullish crossover
🔹 RSI is climbing toward the neutral 50 level, indicating improving momentum
However, if SHIB falls below the double bottom support at $0.00001025, this would invalidate the bullish structure and point toward further downside.
Whales Are Selling, But SHIB Still Has a Chance
Despite encouraging technical signals, whale capitulation continues. According to Santiment data, large SHIB holders have been reducing their positions over recent months:
🔹 Wallets holding 100 million to 1 billion SHIB cut holdings to 17.92 trillion (from 18.8 trillion in December)
🔹 Wallets with 10 to 100 million SHIB dropped to 9.3 trillion (down from 9.44 trillion)
🔹 Wallets holding 1 to 10 million SHIB decreased to 2 trillion (from 2.07 trillion in February)
Large holder sell-offs are often seen as bearish signals, especially given their market influence. However, SHIB's price has held its ground, suggesting underlying support.
Optimism Builds Amid Broader Market Expectations
SHIB could benefit from broader bullish catalysts, such as:
🔹 Bitcoin balances on exchanges hitting all-time lows
🔹 Potential Fed rate cuts
🔹 Easing of Middle East tensions
Historically, SHIB and other altcoins tend to rally when Bitcoin gains strength. If BTC resumes its uptrend, SHIB could follow closely behind.
Conclusion: A Tug-of-War Between Technicals and Fundamentals
Shiba Inu is flashing mixed signals:
🔹 Technicals suggest a breakout is near,
🔹 Fundamentals reveal continued whale liquidation.
Still, if SHIB holds above key support levels, the technical pattern may prevail — giving this top meme coin a strong chance to rebound. Even in uncertain times, meme coins continue to surprise — and SHIB may have more to show.
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