Double bottom pattern + MACD divergence: Shiba Inu's 570% bullish scenario leaves investors anxious.

Shiba Inu (SHIB) has undergone a fierce bearish cycle, losing over 85% of its value and falling out of the top 20 cryptocurrencies by market capitalization. Strong selling pressure has made it difficult for this meme coin to maintain its upward momentum as it continuously slips below important support levels. However, some recent technical analyses indicate a reversal signal, rekindling hopes for a significant bounce back.

The double bottom pattern opens up new prospects

At the time of writing, Shiba Inu is trading around 0.0000124 USD, recording an increase of 2.5% in the last 24 hours. Although this figure is still quite modest compared to the strong fluctuations seen before, the recent movement of SHIB is attracting attention from technical analysts as this coin has just formed a double bottom pattern – one of the most reliable bullish reversal patterns in the financial market.

After falling below 0.000013 USD, SHIB has bounced back from the support zone around 0.000012 USD. This is not only a round price level with psychological factors but also an area that has witnessed strong buying power multiple times in the past, serving as a "historical" support zone.

According to analyst MyCryptoParadise, the appearance of two bottoms in such strategic support areas often signals the potential for a trend reversal. In a positive scenario, a decisive break above 0.000013 USD would be the first confirmation step for a bullish signal. Immediately after that, SHIB needs to overcome the light barrier at 0.0000134 USD before facing the thick liquidity area from 0.0000142 to 0.0000144 USD.

"A decisive breakout could turn SHIB into a catalyst for a strong bullish wave, leading to a FOMO effect as outside investors are forced to join in," he emphasized.

Source: TradingViewThe double bottom pattern is often seen as a reversal signal when the price has reached a bottom after a long decline, bounces back, and then retests the old support area before bouncing back. The appearance of this pattern at the strategic demand area of 0.000012 USD indicates that buying pressure is increasing and the bulls have begun to regain balance against the bears.

Not only does this model have technical value, but it can also strongly influence community sentiment. In the past, instances where Shiba Inu confirmed two bottoms at key levels were often accompanied by new capital from retail investors, contributing to the reinforcement of short- and medium-term upward trends.

However, the negative scenario cannot be ruled out. If SHIB fails to maintain the demand zone of 0.000012 USD and a daily closing candle appears below this level, the entire recovery outlook will be invalidated. At that point, the market may witness overwhelming selling pressure return, pulling the price down to 0.000011 USD – the next support level. Falling to this level not only reinforces the long-term bearish trend but also heightens pessimistic sentiment, pushing SHIB into a new sell-off spiral.

In the short term, the range of 0.000012 – 0.0000145 USD will be the critical "battlefield". If the buyers win and break the resistance, SHIB could enter a sustainable upward phase, setting the stage for testing higher levels. On the contrary, if it fails under selling pressure, this meme coin will continue to face the risk of prolonging the bearish trend.

Bullish Divergence and Optimistic Forecast

An important technical signal has just been recorded on the Shiba Inu chart from the analysis of Javon Marks – a prominent analyst on platform X. According to Marks, the MACD indicator of SHIB has shown a clear bullish divergence. This is a rare pattern that often signals a significant change in momentum, as buyers begin to regain control after a period of being pressured by selling.

In the short term, Marks believes that this divergence could trigger a bounce back of up to 163%, bringing SHIB back to the 0.00003 USD range. This is an iconic price point, not only because of the attractive potential profit level but also because it could affirm that the previous prolonged bearish trend has ended.

Furthermore, Marks even outlined an extremely ambitious scenario: if the upward momentum is maintained and new capital continuously pours in, SHIB could enter a breakout cycle of 570%, aiming for 0.000081 USD. Such growth would be enough to reshape the long-term outlook of Shiba Inu, while also restoring community confidence after a series of deep declines in the past.

Important technical milestones

• Nearby resistance: 0.000017 USD – a price range that has repeatedly rejected previous attempts to rise.
• Next resistance: 0.0000204 USD and 0.0000263 USD – if successfully surpassed, a new uptrend may be confirmed.
• Near support: 0.000008 USD – an important short-term support level.
• Deeper support: 0.0000065 USD ( coincides with the 100-day moving average ). If it breaks, SHIB may revisit the historical low around 0.00000534 USD.

At the present time, the 0.000012 USD level continues to play a crucial "defensive line" role. If the buyers maintain this area and create momentum to overcome the resistance above, SHIB could officially enter a sustainable recovery cycle. Conversely, if this support level is lost, the selling pressure will re-emerge, pulling the price down to lower zones and reinforcing the long-term bearish trend.

Shiba Inu at this moment clearly reflects the fierce tug-of-war between the bulls and bears in the cryptocurrency market. While technical signals open up hopes for a strong bounce back, the risk of a deep fall still looms as the overall market remains highly volatile.

The big question is: Does SHIB have enough momentum to re-establish the "frenzy" like in the previous peak period, or will it continue to be buried under the weight of the bearish trend? The answer will depend on the price action around key technical levels in the coming days.

Emma