Recently, the "double bottom" signal has appeared on the weekly chart of $SHIB , which may indicate a rebound is coming. From last November to this April, SHIB has dropped from its peak to around 0.0000113, a level that is as hard as a floor, having firmly supported the price twice.
Now the price has returned to this key support level, but to confirm that this "double bottom" is valid, we need to see if it can break through the resistance level of 0.0000173 USD with increased volume. If it can successfully break through and hold this position, technical analysts predict it could soar directly to 0.000033 USD, which would almost double the current price, with an increase of 194%.
An indicator called ADX shows that the strength of the recent decline is weakening, like a spring that has been compressed to its limit and is starting to bounce back. More notably, there are signs that large funds are secretly accumulating, and the movements of these "whales" often influence market trends. Taking into account both technical and financial aspects, SHIB may really be approaching a turning point.
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