Shiba Inu Price Holds Above $0.000011 with 9.46 Billion Buy Orders
Shiba Inu (SHIB) price holds above $0.000011 after a 19% drop from its peak of $0.000014 on June 11. This decline reflects broader market volatility linked to geopolitical tensions.
Key points:
- Buy orders for SHIB total 9.46 billion, surpassing sell orders at 6.28 billion, indicating strong accumulation.
- A demand wall is forming below current levels, potentially leading to a price breakout if resistance at $0.000012 is reclaimed.
- SHIB's price pattern shows a completed falling wedge, which typically signals a reversal.
- A breakout above $0.000012 could target $0.000017, a potential increase of 50%.
- Bullish divergence observed in MACD supports the possibility of an upcoming breakout.
- If SHIB closes below $0.000011, it may lead to further losses towards $0.000010.
As SHIB stabilizes, interest shifts to Snorter Bot ($SNORT), a new Solana-based trading assistant currently in presale, offering features for meme coin trading.
Shiba Inu Aggregate Exchange Order Books data | Source: IntoTheBlock
Shiba Inu Price Forecast | TradingView
