Explore the Shiba Inu price outlook as the whale buys 1.33 trillion SHIB tokens in a 194% rally to $0.000033 as an indication of a double bottom pattern.
Shiba Inu (SHIB) has dropped a staggering 20% over the past month, as traders' interest in meme coins continues to wane.
At press time, Shiba Inu is trading at $0.0000116, with trading volume down 16% to $128 million in the 24-hour period on June 19. However, the recent decline has seen SHIB form a double-bottom pattern that the whale may be leading after buying 1.3 trillion tokens.
Shiba Inu prices rise as double bottom emerges.
The
$SHIB Inu is in the early stages of forming a double bottom pattern on the weekly chart that could trigger a major move to the upside.
The pattern suggests that after registering a strong downtrend between November 2024 and April 2025, the Sheba Inu price has found strong support at $0.0000113.
SHIB price is testing the $0.0000113 support for the second time since the downward correction started, resulting in a double bottom formation.
However, to confirm the maturity of the pattern, the price needs to bounce off this support with strong buy-side volume and target neck resistance at $0.0000173.
A decisive move above $0.0000173 and later retesting this level as support could lead to a bounce to the target price of $0.000033. By achieving this target in a double bottom pattern,
$SHIB Inu's price will rise 194% from today's price of $0.000016.
The ADX line, which usually measures the strength of the trend, supports this bullish view. The line is trending downward, indicating that the month-long downtrend is weakening, making a price recovery more likely.
The bullish technical structure seen on the weekly chart is further supported by a recent analysis predicts that SHIB price could rise by as much as 70% as a crash in open interest paves the way for a healthy bull run.
This thesis will be invalidated if the On Balance Volume (OBV) indicator continues to trend downwards, gradually increasing selling pressure.
If sellers force the price of Shiba Inu to lose the support level at $0.000016, it could add zero to the top meme coin and possibly drop to $0.0000090.
Whales Scope 1.3 Trillion SHIB Tokens
Whales, who hold at least 0.1% of
$SHIB ’s token supply, appear to be in an accumulation phase, likely bouncing off support towards a double bottom target of $0.000033.
These addresses bought 1.3 trillion SHIB tokens within 24 hours as major holder netflow increased from 31.56 billion to 1.34 trillion. This behavior supports a bullish Shiba Inu price prediction.
Data from IntoTheBlock shows that whenever these large addresses begin to accumulate, they often precede SHIB price gains.
If this is the case, the $0.0000113 support is likely to hold, allowing the meme token to make significant gains.
In summary, Shiba Inu's price is at a critical point as it tests a key support level at $0.0000113. If this level holds and the price begins to recover, it will confirm a double bottom pattern that could trigger a 194% rally to $0.000033.
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