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NewsBTC 2025-06-24 19:30:37

Shiba Inu Breakout Incoming? Bullish Setup Hints At Big Jump, Experts Say

Shiba Inu Breakout Incoming? Bullish Setup Hints At Big Jump, Experts Say

Shiba Inu tumbled to an intraday bottom of $0.000010 on Sunday, marking its weakest point in 16 months. According to market analyst Tom Tucker, that low could set the stage for a sharp turnaround. Related Reading: Stablecoin Wars Ignite: Peter Schiff Champions Gold-Backed Digital Assets The meme coin has slipped 14% since June began and is off 37% from its May high of $0.00001764. Big holders are growing cautious too, with whale wallets down about 80% and open interest in Shiba Inu futures falling to $123 million—a level last seen in early April. Double Bottom Pattern Offers Hope Based on reports from Tucker’s June 22 chart examination, the meme coin appears to be forming a classic double bottom on its daily price graph. That pattern often signals that a sell-off has run its course. SHIB first bounced off roughly $0.00001028 on April 7, climbing 70% to reach $0.00001765 by May 12. Now that the coin has revisited that support zone at around $0.00001030, traders will be watching closely to see if history repeats itself. $SHIB crashed 7.5% to $0.000011 as geopolitical tensions spooked markets. Down 38% from May highs, with whale holdings -80% and futures OI at a 1-month low. TA shows deep oversold levels, but a double-bottom near $0.00001030 could spark a 62% rebound if support holds.#SHIB pic.twitter.com/uEo3ebjxXD — Tom Tucker (@WhatzTheTicker) June 22, 2025 Support Zone Holds Crucial Key According to Tucker, Shiba Inu needs to stay above $0.000010 to confirm the double bottom. The token has already climbed 7.7% from Sunday’s trough to trade around $0.00001081 today. If the support holds firm, he predicts a 62% rally that would lift SHIB to about $0.00001752—practically matching last month’s peak. Whales Exit As Risk Appetite Fades The most recent decline in major holder balances suggests that there could be a shift in market sentiment among Shiba Inu biggest fan base. Whale positions have been 80% lower from its May high, and the decline in open interest hints that leveraged speculators are not taking as much risk. Those moves suggest caution is likely to persist until the buyers return en masse. Shiba Inu Team Urges Patience Meanwhile, the Shiba Inu ecosystem’s marketing lead, Lucie, has asked the community to stay calm. Based on statements from the team, the rally to $0.01 is still the long-term goal, but reaching that milestone means to not “panic” and stay resilient. Panic is not an option. If we haven’t won yet, it’s because it’s not over. — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) June 22, 2025 Related Reading: Bitcoin Wobbles? Metaplanet Buys Big, Breaks $1 Billion Mark Lucie reminded supporters that market swings are part of the journey and that holding through downturns could pay off down the line. Investors seeking a clear entry point might find the present price action appealing. If SHIB manages to hold above that $0.000010 support, a rapid recovery is in the cards. But if the coin goes below that line, the next move down might take it to even lower levels. Traders should be observing volume, whale actions, and the larger crypto market sentiment before making their next move. Featured image from Imagen, chart from TradingView

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