Despite the sharp collapse that the Shiba Inu (SHIB) currency has experienced since the beginning of 2025, which led to billions of dollars evaporating from its market value, new data is beginning to emerge, indicating the possibility of a strong price rebound that restores hope for investors.
On July 2, SHIB was traded at $0.00001130, slightly up from its annual low of $0.00001035. Despite the weak performance, four key factors could change the game in favor of Shiba Inu:
1. A bullish technical pattern signaling an imminent reversal:
The daily chart for the currency has formed a double bottom pattern, which is one of the most significant technical patterns indicating a trend reversal towards the upside. The neckline for 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:
Data from Santiment showed that the volume of SHIB held on exchanges has decreased to 140.38 trillion coins, down from 141 trillion 30 days ago, indicating a reduction in selling pressure. Whales - large investors - have maintained their holdings at 709 trillion SHIB, reflecting stability and confidence in the medium term.
3. Increase in open interest and a rise in risk appetite:
The open interest on SHIB futures reached about $59.2 million on July 2, up from $52 million last month, reflecting increasing interest from traders. Funding rates have also turned positive, indicating market expectations for a forthcoming price increase.
4. Anticipation of a broad recovery in the cryptocurrency market:
Digital markets are preparing for a potential upward wave driven by expectations of U.S. interest rate cuts. Federal Reserve Chairman Jerome Powell has stated that the bank may begin to lower rates if inflation continues to decline. Most estimates suggest that this could start in September, which could ignite a new spark in the crypto markets.
The likelihood of Bitcoin surpassing a new all-time high before October has risen to 81%, according to Polymarket data, supported by strong inflows into ETF funds and a bullish technical pattern (cup and handle), which could drive altcoins, led by SHIB, to rise again.$BTC
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