Shiba Inu Primed for 62% Surge as Crypto Markets Bounce Back

The meme coin that refuses to die just got a second wind.

Shiba Inu (SHIB) is gathering steam for a potential 62% rally—proving once again that in crypto, even the dogs get their day. Here’s why traders are suddenly bullish on the token that Wall Street still loves to hate.

Market Recovery Fuels the Fire

With Bitcoin and Ethereum clawing back losses, SHIB’s chart is printing a textbook breakout pattern. No fancy fundamentals here—just pure, unadulterated speculative momentum. (And maybe a few leveraged traders chasing the pump.)

The 62% Target: Math or Magic?

That number isn’t plucked from thin air—it’s the measured move from SHIB’s recent consolidation range. Whether it hits that exact figure is anyone’s guess, but the setup has enough juice to make even cautious traders glance at the order book.

Just remember: in a market where ‘fundamental analysis’ sometimes means checking Elon’s Twitter feed, anything goes. Place your bets accordingly.

• Shiba Inu is showing signs of a bullish reversal with a double bottom pattern forming on the daily chart.
• The price has rebounded from a 16-month low of $0.00001004 and is now holding near a key support level.
• Market analyst Tom Tucker expects a 62% rally if Shiba Inu maintains support around $0.00001030.

Shiba Inu (SHIB) shows strong potential for a 62% price rebound following recent technical signals. The token formed a double bottom pattern, with support found NEAR $0.00001030. Analysts view this structure as a pivotal point for a significant price move.

Shiba Inu Finds Strong Support Near Recent Lows

Shiba Inu dropped to a 16-month low of $0.00001004 amid a broader crypto market downturn. This decrease was after a setback in Bitcoin, which momentarily went lower than the 100,000-dollar level, and rising geopolitical tension. Despite the pressure, SHIB rebounded 7.7% from the intraday low, signaling a recovery effort.

Tom Tucker, a market analyst, reported on the formation of a double bottom formation in the daily chart. This trend is traditionally viewed as a reversal in pricing when the price levels concerning the support are strong. shiba inu touched a similar low in April and later surged more than 70% to its May peak.

The latest bounce follows the same pattern as observed previously, and market players are hopeful again. Tucker noted that they had to hold the $0.00001030 value in order to confirm the pattern. When there is a sustained movement over this level, it translates to a 62% increase to 0.00001752.

Whale Holdings Drop as SHIB Prepares for Rally

Large Shiba Inu holders have reduced their holdings by 80%, reflecting shifting market positions. Meanwhile, Shiba Inu open interest on futures has also fallen to $122.97 million, the lowest since early April. This implies less leverage trading and conservative trading behavior by traders.

In spite of these indicators, the technical set-up is a bullish reversal on the condition of sustaining support. Shiba Inu has shown resilience by bouncing back from this region twice in recent months. This 2nd bottom validation lends credence to both a potential short-term rally.

Current market conditions remain volatile, yet Shiba Inu has shown signs of strength. As selling pressure reduces and the technical falling support is maintained, the asset may rebound strongly. An actual breakout may result in a retest of the May high at 0.00001765.

SHIB Ecosystem Maintains Confidence Amid Uncertainty

The Shiba Inu ecosystem team has addressed recent market fears with a statement of ongoing commitment. Marketing lead Lucie has reiterated the long-term prospects of SHIB in the latest crash. The company is not losing hope as the team continues to concentrate on growth regardless of the current price performance.

The adherents are encouraged to watch some major levels where the token faces a turnaround after the last plunge. The forecasted rally still depends on the support zone of $0.00001030. An adequate performance of the test can confirm the projected 62% gain and boost the effectiveness of investor sentiments.

Shiba Inu currently trades at $0.00001081 and could rise to $0.00001752 if the bullish formation completes.

Related Reading | Shiba Inu (SHIB) Drops to $0.0000103 Amid crypto Sell-Off and Geopolitical Risks