Is Shiba Inu on the verge of a price explosion? 2 strong indicators support an imminent rebound$SHIB
Despite the sharp decline that Shiba Inu (SHIB) has experienced since the beginning of 2025, which led to billions of dollars evaporating from its market value, new data has begun to emerge, indicating the possibility of a strong price rebound that brings hope back to investors.
On July 2, SHIB was trading at $0.00001130, a slight increase from its lowest level of $0.00001035. Despite the weak performance, four key factors could change the game in favor of Shiba Inu:
1. An ascending technical pattern signals an imminent reversal:
A double bottom pattern has formed on the daily chart of the currency, which is one of the most indicative patterns of a trend reversal to the upside. The neckline of this pattern is at $0.00001755. As long as the currency maintains the pivotal support at $0.00001035, the chances of a rebound remain strong, while breaking this level could negate the bullish scenario.
2. Decrease in supply on exchanges and whale movements:
The volume of SHIB held on exchanges has decreased to 140.38 trillion coins, compared to 141 trillion 30 days ago, indicating a reduction in selling pressure. Additionally, “whales” – major investors – have maintained their holdings at 709 trillion SHIB, reflecting stability and confidence in the medium term.
(Don't forget to hit the follow button ✅
