Shiba Inu: The Underdog That Might Just Surprise Us All! 🐕💰

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While other top meme coins are experiencing downward pressure (and by downward, I mean plummeting like a lead balloon), our furry friend Shiba Inu (SHIB) is currently trading at a staggering $0.0000115. Yes, you read that right—$0.0000115! It’s like finding a penny in the couch cushions, but hey, at least it’s not zero! 💸

In the past 24 hours, SHIB has shown about as much change as a sloth on a Sunday, with a volatility of just 0.3%. Over the last month, it has lost over 19% of its value, shedding a whopping $2 billion from its market cap since May 23. Ouch! That’s gotta hurt! 😬

But wait! Analysts are whispering sweet nothings about a potential bullish reversal. Yes, you heard it here first! Popular crypto analyst pepeisfriend (who I assume is a very trustworthy friend of Pepe) noted on X that SHIB is approaching the $0.000010-$0.000011 support band. He suggests that this meme coin could face some consolidation before it decides to grow up and become a real coin. 🌱

$SHIB is pretty much at the bottom now, seems like it’s approaching the support zone. If it really hits that support, it’ll likely move sideways for a while before the next growth phase. Stay confident and keep holding or even buy more #SHIB.

I’m sure you won’t regret it. You…

— PEPE is friend (@pepeisfriend) June 19, 2025

On-chain data confirms this long-term bullish case. Addresses holding at least 0.1% of SHIB’s supply have accumulated over 1.3 trillion SHIB in the past day. Large holder netflows surged from 31.56 billion to 1.34 trillion SHIB, which is a notable jump suggesting that some folks are doing some strategic shopping before the potential rally. 🛒

SHIB Price Outlook

On the weekly timeframe, SHIB has formed a double-bottom pattern. No, not the kind you get from too many donuts, but a bullish reversal signal that often leads to price rallies. The second trough of this pattern appears to have been completed with the recent decline. Fingers crossed! 🤞

Potential double bottom pattern on SHIB weekly chart | Source: TradingView

If the pattern plays out, traders could see a potential breakout toward $0.000022, which is nearly double the current price. Now that’s what I call a bargain! 🤑

Meanwhile, on the daily chart, the RSI currently indicates that SHIB is approaching the oversold region. This suggests a possible relief bounce or trend reversal if buying pressure returns. But if the RSI drops further, we might be in for a stronger bearish signal. Yikes! 😱

SHIB price chart with RSI and Bollinger Bands | Source: TradingView

Bollinger Bands are narrowing, signaling a potential consolidation in the near-term. SHIB’s price is hugging the lower band, which often leads to a short-term reversal as traders look to buy discounted levels. It’s like a sale at your favorite store, but for crypto! 🛍️

A daily close above the middle band (20-day SMA) around $0.0000124 would be the first sign of bullish recovery. Let’s hope the bulls are ready to charge! 🐂

The MACD shows continued bearish momentum, with the MACD line below the signal line and a red histogram. A break below $0.0000110 could trigger further declines toward the psychological support at $0.0000100. But don’t panic just yet! The gap appears to be narrowing, suggesting weakening downside pressure and a potential crossover if bulls step in. 🐂💨

SHIB price chart with MACD | Source: Trading View

Solaxy Presale Gains Traction

As SHIB navigates the market volatility, Solana users are seeking solutions for heavy transaction loads and network congestion. Enter Solaxy, a cutting-edge Layer 2 blockchain solution that aims to supercharge Solana’s capabilities. Because who doesn’t want a turbocharged blockchain? 🚀

Solaxy introduces a rollup-based Layer 2 architecture that operates with Solana’s base layer. This approach ensures enhanced transaction throughput and reduced network load without sacrificing the core security and decentralization benefits of the mainnet. Sounds fancy, right? 🤓

$SOLX Tokenomics and Utility

Solaxy’s Layer 2 network’s native token $SOLX powers this new infrastructure. $SOLX will be used to pay for gas, incentivize network participation, and support governance as Solaxy evolves. It’s like the Swiss Army knife of tokens! 🛠️

Presale Details

  • Token Price: $0.001766
  • Funds Raised: $54.7 million
  • Payment Methods: Crypto, Card
  • Ticker: SOLX
  • Chain: Solana

As the ecosystem grows, so will the utility and value of $SOLX. With $54.7 million raised in its ongoing crypto presale, $SOLX is scheduled to hit massive numbers soon. Buckle up, folks! 🎢

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2025-06-19 19:57