For several weeks, SHIB has been forming a double bottom pattern that hints at a significant bullish breakout. This pattern emerged when the price of Shiba Inu created a solid support level at $0.000010. Over the past 18 months, this level has also become a demand zone, as buyers consider it a favorable entry point that precedes a strong bullish rise.

Whenever a double bottom pattern is formed, the first target is the resistance of the neckline that the price tested before the rally was rejected. In the case of SHIB, this resistance is at $0.0000176, where the meme token faced a rejection in mid-May, after a brief rally.

If the current cryptocurrency market rally holds while altcoins continue to follow Bitcoin, the price of Shiba Inu could reach $0.0000176, in which case it would have increased by 71% from the double bottom support.

A strong close above this neckline resistance level will create room for the price of SHIB to rise to the target of the double bottom pattern, which is at $0.000030.

This bullish price prediction for Shiba Inu is also reflected in previous price patterns, which show that each time SHIB approached this support level, it was followed by an upward trend.

$SHIB