Shiba Inu (SHIB) Forms Double Bottom at $0.000012: Bullish Reversal Signal or Bear Trap

Quick Highlights Shiba Inu forms a double bottom at $0.000012, signaling potential bullish reversal. Resistance at $0.00001345–$0.00001445 could trigger strong momentum if bulls break through. A daily close below $0.000012 may invalidate gains and push SHIB toward $0.000011 Shiba Inu has faced sharp declines over the past cycle, losing more than 85% of its value and slipping out of the top 20 cryptocurrencies by market capitalization. The meme coin’s price has remained under pressure, struggling to sustain momentum after dropping below key levels. Despite this downturn, analysts suggest that a potential shift could be underway as technical indicators point to a bullish reversal. Market observers note that a critical price formation at a long-standing demand zone may provide the foundation for a recovery rally. At the time of writing, Shiba Inu (SHIB) is trading at $0.00001237, reflecting a 2.5% increase in the last 24 hours. Double Bottom Pattern at Demand Zone Shiba Inu has recently formed a double bottom pattern after falling below $0.000013. This development, seen around the $0.000012 level, is notable because it coincides with a historical demand zone where significant buy pressure often emerges. Crypto analyst MyCryptoParadise emphasized that such formations, when occurring at key support levels, frequently mark the beginning of bullish reversals. The structure of the double bottom suggests that Shiba Inu could be preparing for a trend shift if momentum holds. A decisive break above $0.000013 would be the first hurdle. From there, the price would only need to clear the weak resistance at $0.00001345 before confronting the liquidity-heavy zone between $0.00001428 and $0.00001445. Shiba Inu price shows bottom signal, Source: TradingView MyCryptoParadise explained that breaching this range with strength could spark a rally, adding that “if taken out with strength, SHIB could trigger a sharp rally that leaves latecomers chasing.” These levels are being closely monitored because they mark areas of concentrated liquidity, which historically influence large price moves. If bulls maintain control, the token could escape its current consolidation range and build momentum toward a broader recovery. Bears Still Hold Downside Risk While the double bottom pattern carries a bullish bias, analysts warn that bearish scenarios remain possible. A daily close below the demand zone at $0.000012 would invalidate the bullish outlook and weaken momentum. This would reopen the path for sellers, leaving Shiba Inu vulnerable to further continued trading within the descending channel could pressure the token back toward the $0.000011 level. Such a move would underline ongoing weakness and confirm that bears remain in control despite temporary bullish formations. The price outlook for Shiba Inu now hinges on whether buyers can defend the $0.000012 demand zone and build strength toward breaking higher resistance points. SHIB/USD Source: TradingView