Shiba Inu (SHIB) holds steady at $0.0000115, with analysts eyeing a bottom as whales accumulate over 1.3 trillion tokens.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
While other top meme coins are experiencing downward pressure, Shiba Inu SHIB $0.000012 24h volatility: 0.5% Market cap: $6.78 B Vol. 24h: $111.31 M is currently trading at $0.0000115 with negligible change in the past 24 hours. It has lost over 19% in the last month and shed over $2 billion from its market cap since May 23.
However, analysts believe SHIB may be at a final bottom before a potential bullish reversal.
Popular crypto analyst pepeisfriend noted on X that SHIB is approaching the $0.000010-$0.000011 support band. He suggests that the meme coin could face some consolidation in the near term before the next “growth phase.”
$SHIB is pretty much at the bottom now, seems like it's approaching the support zone. If it really hits that support, it'll likely move sideways for a while before the next growth phase. Stay confident and keep holding or even buy more #SHIB .
I’m sure you won’t regret it. You… pic.twitter.com/T6Gt4SfN3g
— PEPE is friend (@pepeisfriend) June 19, 2025
On-chain data confirms this long-term bullish case. Addresses holding at least 0.1% of SHIB’s supply have accumulated over 1.3 trillion SHIB in the past day. Large holder netflows surged from 31.56 billion to 1.34 trillion SHIB, a notable jump suggesting strategic shopping before a potential rally.
On the weekly timeframe, SHIB has formed a double-bottom pattern, a bullish reversal signal that often leads to price rallies. The second trough of this pattern appears to have been completed with the recent decline.
Potential double bottom pattern on SHIB weekly chart | Source: TradingView
If the pattern plays out, traders could see a potential breakout toward $0.000022, nearly double the current price.
Meanwhile, on the daily chart, the RSI currently indicates that SHIB is approaching the oversold region. This suggests a possible relief bounce or trend reversal if buying pressure returns but a drop in RSI would confirm a stronger bearish signal.
SHIB price chart with RSI and Bollinger Bands | Source: TradingView
Bollinger Bands are narrowing, signaling a potential consolidation in the near-term. SHIB’s price is hugging the lower band, which often leads to a short-term reversal as traders look to buy discounted levels.
A daily close above the middle band (20-day SMA) around $0.0000124 would be the first sign of bullish recovery.
The MACD shows continued bearish momentum, with the MACD line below the signal line and a red histogram. A break below $0.0000110 could trigger further declines toward the psychological support at $0.0000100.
However, the gap appears to be narrowing, suggesting weakening downside pressure and a potential crossover if bulls step in.
SHIB price chart with MACD | Source: Trading View
As SHIB navigates the market volatility, Solana users are seeking solution for heavy transaction loads and network congestion. Solaxy, a cutting-edge Layer 2 blockchain solution, aims to supercharge Solana’s capabilities.
Solaxy introduces a rollup-based Layer 2 architecture that operates with Solana’s base layer. This approach ensures enhanced transaction throughput and reduced network load without sacrificing the core security and decentralization benefits of the mainnet.
Solaxy’s Layer 2 network’s native token $SOLX powers this new infrastructure. $SOLX will be used to pay for gas, incentivize network participation, and support governance as Solaxy evolves.
Presale Details
As the ecosystem grows, so will the utility and value of $SOLX. With $54.7 million raised in its ongoing crypto presale, $SOLX is scheduled to hit massive numbers soon.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
