Shiba Inu Price Outlook – Whales Front-Run Double-Bottom Pattern With 1.3 Trillion SHIB Buy

Shiba Inu (SHIB) is trading at $0.0000115 today, June 19, with a slight 0.3% decline in 24 hours. Trading volumes during the day also declined by 19% to $121 million, highlighting waning market interest in the token. However, while retail interest is fading, whales appear to be positioning for a major move to the upside after purchasing 1.3 trillion tokens amid early signs of a double-bottom formation.

Shiba Inu Price Rally Looms as Double Bottom Emerges

Shiba Inu is in the early stages of forming a double-bottom pattern on the weekly chart that could trigger a major surge to the upside. This pattern suggests that after registering a strong downtrend between November 2024 and April 2025, Shiba Inu price has found strong support at $0.0000113.

SHIB price is testing the $0.0000113 support for the second time since the downward correction started, leading to the double bottom formation. However, to confirm the pattern’s maturity, the price needs to bounce from this support with strong buy-side volumes and aim for the neckline resistance at $0.0000173.

Making a decisive close above $0.0000173 and later retesting this level as support could trigger a bounce to the target price of $0.000033. By attaining this target in the double-bottom pattern, Shiba Inu price will have surged by 194% from today’s price of $0.000016.

The ADX line, which usually measures the strength of a trend, is supportive of this bullish outlook. This line is sloping downwards, which is a sign that the downtrend that has been going on for a month is becoming weak, making price recovery more likely.

The bullish technical structure appearing on the weekly chart is further supported by a recent CoinGape analysis that predicted that the SHIB price may rebound by 70% as a crash in open interest paves the way for a healthy bull run.

This thesis will be invalidated if the on-balance volume (OBV) indicator continues to slope downwards, showing a gradual rise in selling pressure. If sellers force Shiba Inu price to lose the support level at $0.000016, this top meme coin could add a zero and likely drop to $0.0000090.

Whales Scoop 1.3 Trillion SHIB Tokens

Whales holding at least 0.1% of SHIB’s token supply appear to be on an accumulation phase, possibly frontrunning the bounce from support towards the double-bottom target of $0.000033. These addresses have bought 1.3 trillion SHIB tokens within 24 hours as large holder netflows increased from 31.56 billion to 1.34 trillion. This behaviour supports a bullish Shiba Inu price forecast.

Data from IntoTheBlock shows that whenever these large addresses start accumulating, it often precedes gains for SHIB price. If this is also the case, then it is likely that the $0.0000113 support holds, allowing the meme token to make notable gains.

To sum up, Shiba Inu price is at a critical juncture as it tests a key support level at $0.0000113. If this level holds and the price starts to recover, it will confirm a double bottom pattern that may trigger a 194% rally to $0.000033.