Key Notes
- Shiba Inu price stumbled towards $0.000011 on Friday, June 20, down 19% from the monthly timeframe peak recorded on June 11.
Aggregate Exchange order book data shows buy-orders exceeding sell-orders by 3.1 trillion SHIB, signalling an influx of re-entry bids.
SHIB Falling Wedge Pattern indicates a potential run towards $0.000017 if the bearish momentum flips.
Shiba Inu price found support above $0.000011 on Friday, June 20, having declined 19% from its monthly timeframe peak. With SHIB price action now compressing inside a falling wedge formation, and buy-orders piling up, traders are closely watching for potential bullish SHIB price rebound signals.
Shiba Inu Holds $0.000011 as Buy-Orders Flood Exchanges
Shiba Inu has endured a sharp 19% decline since June 11, dropping from $0.000014 to a nine-day low of $0.000011 on June 20. The pullback mirrors broader market volatility driven by rising geopolitical tensions.
However, on-chain metrics suggest that bullish traders are positioning for a reversal. According to IntoTheBlock’s Exchange Order Books chart, total buy orders for SHIB currently stand at 9.46 billion tokens, significantly outweighing the 6.28 billion in total sell orders. This results in a net buy-side depth of 3.18 billion SHIB, signaling intensified accumulation at current price levels.
Shiba Inu Aggregate Exchange Order Books data | Source: IntoTheBlock
This bid-ask imbalance suggests that a major demand wall is forming just beneath current levels. This accumulation zone has already triggered brief intraday reversals and could serve as a launchpad for a breakout, if bulls manage to reclaim the $0.000012 resistance.
SHIB Price Forecast: Can Falling Wedge Structure Trigger $0.000017 Breakout?
SHIB price action has completed the full structure of a falling wedge pattern, a setup that typically signals a reversal when paired with high-volume price support. The current wedge spans from the June 11 peak near $0.0000149 to a base at $0.000011, where bulls have repeatedly stepped in.
Shiba Inu Price Forecast | TradingView
The chart above also shows that SHIB has now touched the lower wedge boundary three times, with each bounce growing in strength. A breakout above the $0.000012 resistance line would complete the bullish setup and open the door for a measured move towards $0.000017, a 50% increase from current levels.
Adding strength to this outlook is a visible bullish divergence on the MACD. While prices made lower lows, the MACD histogram has begun ticking upward, and the MACD line is curling up toward the signal line. This shift in momentum, paired with high-volume troughs, often precedes a breakout phase.
Still, SHIB must close decisively above $0.000012 to confirm the breakout. Failing that, a breakdown below $0.000011 could extend losses toward the psychological $0.000010 level, where historical demand last triggered a 40% bounce in May.
As SHIB Stabilizes, Snorter Bot ($SNORT) Pre-Sale Gains Traction
While Shiba Inu holds above $0.000011 amid broader meme market cooling, traders are shifting focus toward early-stage Solana tokens like Snorter Bot ($SNORT).
Snorter Bot is a Solana-native trading assistant built to streamline on-chain meme coin hunting. Powered by the $SNORT token, it offers ultra-low fees, early access to trending tokens, and fast execution, all through a simple Telegram interface.
Now in presale, $SNORT is positioning itself as a must-have utility token for traders seeking alpha before coins hit major listings.
To join the presale, visit the official Snorter Bot site or Telegram channel and connect a supported wallet.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
