Whales Buy 700B Shiba Inu As Shibarium TVL Reclaims $2M; Is $0.000030 Next?
Shiba inu price eyes a massive rally to $0.000030 amid a double bottom chart pattern, whale accumulation and Shibarium network growth.
Shiba Inu price is targeting a rally to $0.000030 as it continues trading within a double-bottom pattern.
Whales are accumulating after they bought 700 billion SHIB tokens in the last two days.
Shibarium network activity is also rising after reclaiming $2 million.
Shiba Inu price is on a rally today, July 10, having gained by 7.55% in the last 24 hours to trade at $0.0000134 at the time of writing. Following this upsurge, SHIB price reached the highest level in one month at the same time that a bullish pattern, whale buying, and rising network activity suggested that a move towards $0.000030 might occur.
Bullish Pattern May Take Shiba Inu Price to $0.000030
For several weeks now, This pattern emerged as the Shiba Inu price created a strong support level at $0.000010. In the last 18 months, this level has also doubled up as a demand zone as buyers find it to be a favorable entry point that precedes a massive rally to the upside.
Whenever a double bottom pattern forms, the first target is the neckline resistance that the price tested before the rally was rejected. In the case of SHIB, this resistance lies at $0.0000176, where the meme token faced rejection in mid-May, following a brief rally.
If the ongoing crypto market rally holds as altcoins continue to track Bitcoin, Shiba Inu price could get to $0.0000176, in which case it will have risen by 71% from the double-bottom support.
Making a strong close above this neckline resistance level will create room for the SHIB price to rally to the target of the double bottom pattern that sits at $0.000030.
In summary, today’s gains in SHIB price indicate that a 71% rally to $0.000030 might happen soon because of the appearance of a double bottom pattern. If whales continue to buy more Shiba Inu coins now,
