Shiba Inu (SHIB) is once again under the spotlight after a 5,58% drop in a single day. Despite this setback, both technical indicators and on-chain data signal a potential breakout. Whale activity and a bullish chart pattern point toward a possible surge to $0.000045.
Shiba Inu prediction remains strong despite price dip
The meme coin market took a sharp hit this weekend, and Shiba Inu was no exception. The SHIB price dropped to $0.0000143, its lowest point in a week. This correction followed over $2 million in long position liquidations, according to Coinglass data.
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Still, investors have reasons to stay optimistic. CoinGecko data confirms the correction was broad-based, affecting the entire meme coin segment. At the same time, several indicators are flashing bullish signals for SHIB.
One of the most notable signals is coming from whales – large holders of SHIB. On-chain platform Santiment reports a sharp increase in whale transactions, with wallet addresses holding over $1 million in SHIB nearly doubling their activity between May 8 and May 15. Historically, such spikes have often preceded price rallies. In November 2024, for instance, SHIB surged to a yearly high of $0.000033 after similar whale behavior.
Double bottom pattern supports bullish Shiba Inu prediction
A classic double bottom pattern is now forming on the weekly chart — a strong signal that a trend reversal may be underway. SHIB has held firm at the $0.0000107 support level. If it rebounds from this level and breaks through the next resistance at $0.000033, a move toward $0.000045 is well within reach.
The Awesome Oscillator (AO) is turning green, suggesting that bearish momentum is weakening. Meanwhile, the weekly Relative Strength Index (RSI) is hovering just below the 50 level. A breakout above 50, combined with an AO flip above zero, would confirm the bullish move.
Derivatives market data from Binance backs this outlook, with 73% of traders holding long positions in SHIB futures. This clear long bias supports the view that traders are positioning themselves for an upward move.
Technical and on-chain analysis align
The combination of increased whale activity, bullish chart structure, and long trader positions provides a strong foundation for a positive Shiba Inu prediction. While the recent pullback may have shaken weak hands, the underlying fundamentals suggest it could be a temporary dip in a broader uptrend.
Investor psychology may also play a role. SHIB holders remember the explosive rallies of previous years, and current price levels could be seen as an attractive entry point — especially with big players re-entering the market.
Conclusion
Despite a short-term drop, the Shiba Inu prediction remains positive. With key support levels intact, a double bottom forming, and large investors moving in, SHIB appears poised for a breakout to $0.000045. If buying momentum continues and the broader market cooperates, the next leg of the rally may be just around the corner.
