Shiba Inu (SHIB) has broken out of a seven-week downtrend, signaling a potential reversal in market sentiment. On June 24, the meme coin traded at $0.0000117, marking an 8% gain over the past 24 hours, with daily trading volumes reaching $221 million. This rebound coincides with a massive accumulation of 1.6 trillion SHIB tokens by whale investors, sparking renewed optimism across the crypto community.
The breakout from a prolonged bearish phase marks a pivotal shift for one of the most recognized meme coins in the market. After weeks of declining prices and weakening momentum, the sudden surge suggests that bullish interest is returning. However, while short-term gains are encouraging, long-term recovery depends on whether SHIB can sustain upward momentum and clear key resistance levels.
Technical Breakout Signals Shift in Market Sentiment
For the past seven weeks, Shiba Inu faced consistent selling pressure, resulting in a steady decline in value. The price action formed a descending parallel channel, a classic bearish pattern indicating sustained downtrend momentum. However, the recent breakout from this channel is a strong technical signal that bears may be losing control.
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This breakout is particularly significant because it represents the first major bullish development since early May. A decisive move above the 50-day Simple Moving Average (SMA) at $0.0000134 would confirm growing buyer dominance. Clearing this level could attract momentum traders and trigger short-covering rallies, further accelerating upward movement.
Still, for a full trend reversal to take hold, SHIB must overcome stronger resistance at the 200-day SMA, currently sitting at $0.000016. Achieving this target would represent a nearly 40% increase from current levels — a milestone that could reignite broader investor interest and attract new capital into the ecosystem.
Key Resistance and Support Levels
Several critical technical levels will determine the next phase of SHIB’s price trajectory:
- $0.0000134 (50-day SMA): A break above this level confirms short-term bullish momentum.
- $0.000014 (61.8% Fibonacci retracement): Overcoming this Fibonacci level would validate stronger buying interest and support further upside.
- $0.0000151 (Point of Control - PoC): This volume-based indicator reflects where the most trading activity has occurred. A sustained move above PoC signals a structural shift from bearish to bullish market dynamics.
- $0.000016 (200-day SMA): The ultimate near-term target for bulls aiming for a full trend reversal.
On the downside, the key support zone remains at $0.0000090, which previously triggered a strong rally in early 2024. If selling pressure returns and this level fails to hold, SHIB could re-enter its previous downtrend pattern.
Whale Accumulation Fuels Bullish Momentum
One of the most compelling factors behind SHIB’s recovery is the surge in whale activity. According to on-chain data from IntoTheBlock, large holder netflows jumped from 64 billion to 1.66 trillion SHIB within just 24 hours — indicating that whales accumulated approximately 1.6 trillion tokens during this period.
Whale accumulation is often seen as a leading indicator of future price movements. Unlike retail traders who may react emotionally to market swings, institutional-grade investors and large holders typically employ data-driven strategies and long-term outlooks. Their decision to buy in bulk during a recovery phase suggests confidence in an upcoming rally.
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This wave of accumulation supports a bullish thesis for Shiba Inu’s price prediction. Historically, when whales accumulate during consolidation or early recovery phases, it often precedes significant upward price action. With current indicators showing reduced selling pressure and rising demand, the stage may be set for a sustained rally.
Market Structure Transition: From Bearish to Bullish?
While technical indicators show promise, not all signals are yet aligned for a confirmed bullish reversal.
The Relative Strength Index (RSI), for example, remains below 50 — still within bearish territory. This suggests that although price has broken out, buying momentum is not yet strong enough to be considered dominant. Until RSI crosses above 50, there remains a risk of a pullback or retest of the descending channel.
However, if volume continues to support higher lows and prices remain above key moving averages, the likelihood of a structural shift increases. A confirmed close above $0.0000151 (PoC) combined with RSI turning positive would provide stronger validation of a new uptrend.
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Frequently Asked Questions (FAQs)
Why is Shiba Inu price rising today?
Shiba Inu’s price increase follows broader market recovery driven by easing geopolitical tensions and significant whale buying activity. The accumulation of 1.6 trillion SHIB tokens has boosted investor confidence and triggered short-term bullish momentum.
What are the key levels to watch for SHIB?
Traders should monitor resistance at $0.0000134 (50-day SMA), $0.000014 (Fibonacci level), and $0.0000151 (PoC). A break above $0.000016 (200-day SMA) would confirm a full bullish reversal. On the downside, $0.0000090 remains critical support.
Why are whales buying SHIB now?
Whales may be anticipating a price recovery based on technical breakouts and undervaluation signals. Their accumulation often reflects strategic positioning ahead of expected market rallies, leveraging data insights and long-term trend analysis.
Can SHIB achieve a 40% price hike?
A 40% rally to $0.000016 is possible if bullish momentum holds and key resistance levels are breached. Continued whale support, rising trading volume, and positive market sentiment will be crucial factors.
Is Shiba Inu still considered a high-risk investment?
Yes. Despite recent gains, SHIB remains highly volatile and sensitive to market sentiment. As a meme coin, its value is largely driven by speculation rather than utility, so investors should exercise caution and conduct thorough research.
How does on-chain data help predict SHIB’s movement?
On-chain metrics like whale netflows, exchange reserves, and holder distribution provide real-time insights into investor behavior. Sudden spikes in large wallet activity often precede major price moves, offering early signals for proactive traders.
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Final Outlook: A New Chapter for Shiba Inu?
The end of Shiba Inu’s seven-week downtrend marks a turning point that could pave the way for a broader recovery. With whales aggressively accumulating and technical indicators showing early signs of reversal, the conditions for a sustained rally are beginning to align.
While challenges remain — including weak RSI momentum and unconfirmed breakout strength — the overall picture is becoming more favorable. If SHIB maintains its current trajectory and clears key resistance levels, a 40% surge toward $0.000016 is within reach.
For investors and traders alike, monitoring whale activity, volume trends, and structural support/resistance zones will be essential in navigating the next phase of SHIB’s journey. As always in crypto, volatility remains high — but so do the opportunities for those who stay informed.
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