Shiba Inu Eyes $0.0000456 as Whale Accumulation Grows Stronger

The Shiba Inu price follows a double bottom pattern similar to 2023 that previously triggered a 300% rally.

Whales have bought over 1.7 trillion SHIB in 24 hours, indicating growing confidence among large holders.

Technical indicators such as the AO and MFI show weakening bearish momentum and hint at a potential trend reversal.

Shiba Inu (SHIB) saw its price drop by 5% in the last 24 hours, trading at $0.0000149 on July 22. Despite this short-term loss, the meme coin has maintained a 38% gain over the past 30 days. The current decline appears to follow a similar pattern witnessed in 2023, which previously led to a significant rally.

A double bottom pattern formed between December 2024 and July 2025 mirrors a structure from 2023 that preceded a sharp upward movement. Technical analysis from CoinGape earlier projected a possible surge to $0.000029 in July, based on this fractal. However, SHIB failed to surpass the key resistance of $0.0000176 and is now pulling back again.

Previous Rally Provides Context for Price Movement

In 2023, the Shiba Inu price faced a similar rejection at resistance but eventually climbed 300 percent after weeks of consolidation. If this pattern repeats, the price could rally towards the March 2024 high of $0.0000456. That level would represent a 194 percent increase from the current value, while a repeat of the previous 300 percent rally could place SHIB around $0.000060.

Data from IntoTheBlock indicates a significant uptick in whale activity. Within a 24-hour window, netflows for large holders jumped from 161 billion to 1.93 trillion SHIB. This increase suggests whales accumulated over 1.7 trillion tokens during the decline, showing continued interest from major holders despite current market hesitation.

Momentum Indicators Suggest Weakening Bearish Pressure

Technical indicators provide further support for a potential upward movement. The Awesome Oscillator (AO) has turned green, hinting that bearish momentum is fading. At the same time, the Money Flow Index (MFI) is forming higher highs, often seen as a precursor to bullish trends when paired with increasing whale purchases.

Market conditions are aligning in a way that echoes historical price action. The combination of a bullish fractal, increased whale interest, and weakening selling pressure suggests that the recent decline may be temporary. If the pattern holds, SHIB could trend upward in the coming weeks, targeting key resistance zones last reached in early 2024.

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