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Shiba Inu Price- Overview of Recent Price Movement
Shiba Inu Price– Shiba Inu (SHIB) found crucial support just above the $0.000011 level on Friday, June 20, following a 19% decline from its monthly high. This price action reflects broader market turbulence influenced by escalating geopolitical tensions. Despite the pullback, technical indicators suggest that traders are positioning themselves for a possible rebound. The current price is consolidating within a falling wedge formation, which often precedes bullish breakouts.
SHIB Holding Key Support with Increasing Buy Interest
Since June 11, SHIB’s price dropped sharply from around $0.000014 to a nine-day low near $0.000011 on June 20. This retracement aligns with overall market uncertainty. However, according to IntoTheBlock’s Exchange Order Books data, total buy orders amount to approximately 9.46 billion tokens, surpassing the 6.28 billion sell orders. This imbalance results in a net buy-side depth of 3.18 billion SHIB, indicating strong accumulation near current price levels. Such demand walls can lead to short-term reversals and potentially provide a foundation for a larger price rally if resistance at $0.000012 is overcome.
Technical Setup and Price Outlook
Falling Wedge Pattern Indicates Potential Reversal
SHIB’s price movement has formed a complete falling wedge pattern — a classic technical setup that often signals a bullish reversal when paired with strong volume. The wedge extends from the June 11 peak near $0.0000149 down to the base at $0.000011, where buyers have consistently stepped in. The price has tested the wedge’s lower boundary three times, with each rebound gaining momentum.
If SHIB breaks above the $0.000012 resistance, it would confirm the bullish pattern and potentially trigger a move toward $0.000017, representing a 50% increase from current levels.
Momentum Indicators Support Bullish Scenario
Additional confirmation comes from the Moving Average Convergence Divergence (MACD) indicator, which shows a bullish divergence. While the price recorded lower lows, the MACD histogram is turning upwards, and the MACD line is moving closer to the signal line. This shift in momentum, combined with high-volume price troughs, often precedes a breakout phase.
However, a decisive close above $0.000012 is necessary to validate the breakout. If the price falls below $0.000011, losses could deepen toward the psychological support at $0.000010, where a notable 40% bounce occurred in May.
Emerging Interest in Snorter Bot ($SNORT) Amid Memecoin Market Shift
As Shiba Inu stabilizes around $0.000011, attention is gradually shifting to emerging tokens on the Solana blockchain, such as Snorter Bot ($SNORT). Snorter Bot is a Solana-native trading assistant designed to simplify on-chain memecoin discovery and trading.
Powered by the $SNORT token, the platform offers features including ultra-low fees, early access to trending tokens, and fast execution, all accessible through an easy-to-use Telegram interface.
Snorter Bot’s Presale Gains Momentum
Currently in its presale phase, $SNORT is positioning itself as an essential utility token designed specifically for traders who are looking to gain early alpha opportunities before tokens are listed on major exchanges. This presale period offers investors a unique chance to acquire $SNORT tokens at initial pricing, potentially benefiting from future price appreciation as the project gains traction.
Traders interested in leveraging Snorter Bot’s advanced features, such as streamlined on-chain meme coin discovery, ultra-low fees, and fast execution through a simple Telegram interface, are encouraged to participate early. To join the presale, individuals can visit Snorter Bot’s official website or Telegram channel, where they will find detailed instructions on how to connect a supported cryptocurrency wallet and securely purchase tokens during this initial offering stage.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
