SHIB value today remains under a bearish trajectory with a 1.6% drop in 24 hours. However, a 13% uptick in trading volumes per CoinMarketCap data suggests that some traders may be buying the dip.
Shiba Inu price is lagging despite showing signs of a bottom pattern and potential for a 4x rally amid surging transaction volumes and the growth of the Shibarium layer 2 network as it nears a $3M milestone. If this bullish outlook holds, SHIB may outperform other meme coins and clinch multi-month highs before the end of 2025.
Shiba Inu Remains Bearish Despite 13% Uptick in Trading Volumes
The price of Shiba Inu remains in the red on Thursday morning, with SHIB down by 1.6% in the past 24 hours. However, there has been a 13% increase in trading volumes, which may indicate that some traders are buying the dip.
On the other hand, the relative strength index (RSI) on the 14-day time frame is still in the oversold territory, which may suggest that the bearish trend is not yet over.
Shiba Inu Price Gears for 4x Surge
The weekly chart for SHIB price shows that this top meme coin is at a critical juncture that may precede a strong upward trend if the bullish momentum grows strong. The potential uptrend is seen with the formation of a double-bottom pattern that often signals that the existing trend is about to shift from a bearish one to a bullish one.
To confirm this double-bottom pattern, Shiba Inu price needs to create a higher high and form an ascending trendline that may push it to the neckline resistance of $0.000033. If it can overcome this resistance, SHIB may record a 4x rally from its current price to $0.000045.
The AO histogram bars have flipped green, albeit remaining in the negative region, an indication that the bearish momentum is growing weak. However, a strong uptrend will occur if the indicator moves to the positive side. Meanwhile, the MACD is about to form a buy signal if it crosses above the signal line and extends the upward momentum past the zero line.
The above bearish thesis will be invalid if the price of Shiba Inu falls below the critical support level of $0.000
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