SHIB Whale Transactions Surge, Potential Reversal Imminent

Possible Bullish Double Bottom Forming

Technical analysts are spotting a “double bottom” pattern on SHIB’s daily chart, which often signals a bullish trend.

Source: CoinMarketCap

This occurs when an asset tests a low point, bounces, and retests it, with the support level around $0.00001154. If SHIB breaks above the interim peak, a price surge could follow.

Community Sentiment Strong Despite Whale Control

While whales hold 58.5% of SHIB’s supply, over 77% of wallets are long-term holders, suggesting strong community belief in the token.

Although the chart and whale activity point to a potential move, analysts warn that technical patterns can fail, and whale movements may be unclear.