TLDR
- SHIB forms descending wedge and double-bottom patterns that could drive price to $0.000025
- Current price of $0.00001137 faces critical test at $0.00001100 support level
- RSI and MACD indicators show bullish divergence despite recent selling pressure
- Large holders continue reducing positions but overall crypto market sentiment remains positive
- Short-term consolidation expected between $0.000011-$0.0000125 range
Shiba Inu is showing mixed signals as the meme coin trades near critical support levels. The cryptocurrency currently sits at $0.00001137, down 0.78% in the past 24 hours.
Technical analysts have identified two key chart patterns that could drive SHIB higher. The first is a descending wedge formation that has been developing for several months. This pattern typically signals an upcoming breakout to the upside.
The second pattern is a double-bottom formation near $0.00001025. This classic reversal pattern suggests the cryptocurrency has found strong support at this level. The neckline of the double-bottom sits around $0.00001765.
Crypto analyst Crypto Catalysts notes that SHIB is “flashing rare bullish signs.” The price has bounced multiple times from horizontal support near $0.0000115 since March 2025.
$SHIB is now priced at $0.00001137 and could potentially rise above the $0.00003 threshold as momentum builds.
Easy 3x opportunity 🚀🔥 pic.twitter.com/VWQvvkvbGp— Crypto Catalysts (@Crypt00catalyts) June 21, 2025
Technical Indicators Support Bullish Case
Both the Relative Strength Index and Moving Average Convergence Divergence have produced bullish divergences. These momentum indicators suggest buyers may be gaining control despite recent price weakness.
If the double-bottom pattern plays out, the price target would be approximately $0.000025. This represents a potential 115% increase from current levels. The target is calculated by adding the height of the pattern to the neckline level.
For the breakout to confirm, SHIB needs to close above the $0.00001765 resistance level. This would validate both the descending wedge and double-bottom patterns.
Technical analyst Crispus explains that “the bullish breakout often follows a double-bottom pattern as long