𝙎𝙝𝙞𝙗𝙖 𝙄𝙣𝙪 𝙋𝙧𝙞𝙘𝙚 𝙏𝙖𝙧𝙜𝙚𝙩𝙨 𝘿𝙤𝙪𝙗𝙡𝙚 𝘽𝙤𝙩𝙩𝙤𝙢 𝘽𝙧𝙚𝙖𝙠𝙤𝙪𝙩 𝙖𝙨 𝘽𝙪𝙡𝙡𝙨 𝘿𝙚𝙛𝙚𝙣𝙙 $0.000012 𝙎𝙪𝙥𝙥𝙤𝙧𝙩

Shiba Inu (SHIB) is down 8% since its monthly open price of $0.000013. At press time, Shiba Inu price trades at $0.0000121 with a slight 0.8% intraday gain. Meanwhile, 24-hour trading volumes on June 16 stood at $102 million as market interest dwindled. Today’s slight gains confirmed the emergence of a bullish double-bottom setup, as bulls defend a key support level at $0.000012.

The daily timeframe for Shiba Inu price shows the emergence of a double bottom pattern that is in the early stages of formation. This pattern indicates that after the prolonged downtrend that started on May 12, SHIB price has found strong support at $0.000012.

Shiba Inu has defended the $0.000012 support level twice since the downtrend commenced. This is a sign that bulls view this price to be a good entry point, and as selling pressure eases, it creates room for an uptrend to commence.

For the double bottom to reach maturation, Shiba Inu price will have to first breach the neckline resistance that lies at $0.0000136. After this, a 42% breakout rally that is equal to the height of this pattern could emerge, pushing the price to $0.000017.