Shiba Inu (SHIB) Price: Whale-Sized Buy Orders Hint at Major Rebound From June Lows

Shiba Inu claws back as market spots institutional-scale accumulation.

Whales Betting Big on SHIB Revival

While retail traders were panic-selling last week, deep-pocketed investors quietly stacked SHIB at bargain prices—because nothing says 'calculated risk' like throwing millions at a dog-themed altcoin. Order books now show buy walls thicker than a crypto bro's Lamborghini door.

Technical Signals Flash Green

The meme coin's RSI bottomed out at levels last seen during the 2023 bear market, triggering algorithmic traders' buy protocols. Exchange reserves are draining faster than liquidity from a leveraged farmer's wallet.

Just don't mention that SHIB remains down 89% from its ATH—after all, in crypto, we call that 'a healthy correction setting up the next parabolic move.'

TLDR

• SHIB fell 19% from its June 11 peak to $0.000011, losing 24% over the past month
• Exchange order books show 3.1 trillion SHIB in net buy orders, with 9.46 billion buy orders versus 6.28 billion sell orders
• Token currently ranks 19th largest cryptocurrency with $6.7 billion market cap
• Technical analysis reveals falling wedge pattern that could signal potential recovery to $0.000017
• Long-term price predictions suggest $0.01 by 2040 and $1 by 2050, though experts question feasibility

Shiba Inu has experienced a sharp decline over recent weeks, dropping 19% from its monthly peak to current levels around $0.000011. The meme token traded at $0.00001138 as of June 21, representing a 1.57% decline over 24 hours and 6.09% drop over the past week.

The broader monthly performance shows more concerning trends. SHIB has lost 24.03% of its value over the past 30 days, reflecting ongoing market volatility and investor uncertainty.

Despite recent weakness, the token maintains its position as the 19th largest cryptocurrency by market capitalization. Current valuation stands at $6.7 billion according to CoinMarketCap data.

Exchange data reveals interesting demand patterns beneath the surface price action. Order book analysis shows 9.46 billion SHIB in total buy orders compared to 6.28 billion in sell orders across major exchanges.

This creates a net buy-side depth of 3.18 billion SHIB tokens. The imbalance suggests accumulation activity at current price levels, with traders potentially positioning for a reversal.

Technical Analysis Points to Potential Recovery

Chart patterns indicate SHIB may be setting up for a bounce from current support levels. The token has formed a falling wedge structure since the June 11 peak NEAR $0.000014.

Falling wedge patterns typically signal potential reversals when combined with volume support. SHIB has now tested the lower wedge boundary three times, with each bounce showing increased strength.

A breakout above $0.000012 resistance could trigger a measured move toward $0.000017. This WOULD represent a 50% increase from current trading levels.

Technical indicators support this bullish scenario. The MACD histogram has begun ticking upward while the MACD line curves toward the signal line, creating bullish divergence.

However, SHIB must close decisively above $0.000012 to confirm the breakout pattern. Failure to hold current support could lead to further declines toward the psychological $0.000010 level.

Long-Term Price Predictions Remain Optimistic

Community members and analysts continue to project ambitious long-term targets for SHIB. The “$0.01 dream” remains a popular forecast within the shiba inu ecosystem.

$SHIB will surpass $0.01…

People will start saying $1 is impossible.

We have been here before people!!!

— Del Crxpto (@DelCrxpto) March 9, 2024

Reaching $0.01 would require an 87,773% price increase from current levels. At that price point, SHIB’s market cap would reach $5.89 trillion based on the current supply of 589.25 trillion tokens.

Marketing lead Lucie and analyst Luis Delgado consider the $0.01 target realistic over time. Both emphasize that achieving this milestone would require patience and favorable market conditions.

Some forecasting platforms provide specific timelines for these targets. Changelly projects SHIB could reach $0.01 by September 2040, approximately 15 years from current date.

Telegaon offers similar projections, suggesting the token could hit $0.01 by 2040 with a maximum target of $0.08 that year. The platform extends its forecast to $1.06 by 2050.

Even more ambitious predictions target the $1 price level. This would require an 8,787,246% increase from current prices, pushing SHIB’s market cap above $589 trillion.

ChatGPT analysis shared by community leaders suggests the $1 target remains within possibility. However, this would require alignment of multiple factors including broader market growth, extensive token burns, and widespread adoption.

Critics question whether such targets are mathematically feasible. At $1, SHIB’s market cap would exceed the global money supply, which stood at $129 trillion in Q2 2024.

Bitcoin advocate Davinci Jeremie argues these prices remain impossible without massive token supply reduction through burning mechanisms.