When it comes to memecoins, many stem from similar ideas, but no two coins can bring about the expected ultimate results. Take Dogecoin (DOGE) and SHIB as examples. Although they are widely discussed and supported by Elon Musk, they have still gone through quite a few troughs and downturns. Why do large investors buy SHIB?
The largest holders of Shiba Inu have just shown how quickly normal price changes can occur. On June 19, wallets controlling at least 0.1% of the supply accumulated about 1.3 trillion SHIB in one day, marking the largest whale influx of the month. Such large orders absorb the liquidity of the order book and may push prices beyond retail expectations.
On June 23, SHIB was trading at $0.0000108, down about 11% for the week, but daily trading volume was still over $265 million, suggesting that well-funded investors believe SHIB's value is close to the $0.000011 range.
Can SHIB really rise by 194%?
Analysts are focusing on a typical double bottom pattern that has formed since April. A double bottom occurs when sellers fail to break the same bottom twice; the second rebound usually triggers algorithmic buying as the downward momentum weakens. If SHIB holds above $0.0000113 and then breaks the neckline at $0.0000173, the calculated target price is around $0.000033, which means a potential increase of 194% from today's price.
Short-term models also reflect this tendency, marking $0.000012 before June 26 as a closer milestone, but any closing price below the support level will invalidate the setup. For beginners: whale demand combined with bullish patterns increases the chances of success, but it does not guarantee it.
