Shiba Inu (SHIB) has dropped today, July 22, to trade at $0.0000149 after a 5% decline in 24 hours. This drop comes after a 38% increase in the last 30 days, but it also appears as if the current decline could be part of a 2023 pattern that supported a Shiba Inu price rally to $0.0000456. Whales might be getting ready for these gains after they bought more than 1.7 trillion SHIB over the last day.
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Shiba Inu Price Repeats 2023 Bullish Pattern
Shiba Inu created a double bottom between December 2024 and July 2025, and the price has been moving within this pattern for months. A previous analysis by CoinGape had predicted that this pattern might be the reason why the SHIB price could surge to $0.000029 this month.
However, this surge has failed to happen considering that this meme coin has failed to gain above the resistance of $0.0000176 and instead, the price is dropping again. This could show that traders are not looking to buy now, and they could be waiting to see whether the sellers will cause a crash.
During the last quarter of 2023, the SHIB price failed to confirm this pattern in the same way, just like it also failed to rally once the hurdle was hit again this week. However, in 2023, after a few weeks of the price failing to move below this hurdle, Shiba Inu finally surged, in a 300% rally that pushed it to $0.0000456.
If this pattern is being repeated, the most likely target for the Shiba Inu price will be the March 2024 high of $0.0000456, and this will be a 194% rally from the current price of $0.000015. However, if it were to make the same 300% rally that it did between 2023 and 2024, the price might move to $0.000060.
SHIB/USDT: 1-Week Chart (Source: TradingView)The AO bars are supporting this bullish Shiba Inu price as they turn green while remaining negative, which shows that the bearish sentiment is becoming weak. The MFI is also making higher highs, and if this continues, and the AO bars also move to the positive side, the bullish forecast will likely play out in the coming weeks, and $0.0000456 might be an achievable target.
You can get a deeper dive into long term Shiba Inu Price prediction here curated by our analysts.
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Whales Accumulate SHIB as Momentum Shifts
Data from IntoTheBlock shows that whales are buying SHIB, and this follows an increase in the large holder netflows from 161 billion to 1.93 trillion tokens. This shows that within 24 hours, these SHIB whales have bought more than 1.769 trillion tokens.
SHIB Large Holder Netflows (Source: IntoTheBlock)This data shows that even with concerns about the price dropping after it failed to cross above the double bottom resistance, large traders are not giving up. This is often an indicator that the SHIB price is going to continue with its upward movements.
Based on this on-chain data and the repeat of the 2023 pattern, the ongoing drop might only be temporary, and the Shiba Inu price might repeat the upward trend that it started two weeks back and possibly reach $0.000045.
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Frequently Asked Questions (FAQs)
Why is Shiba Inu price dropping today?
Shiba Inu price is dropping because of a crash across the broader cryptocurrency market that has caused a spike in selling activity for most tokens.
What does the 2023 pattern show about the SHIB price?
The 2023 pattern shows that SHIB is still poised for the bullish reversal that is seen in the double bottom pattern, and it might reach $0.000045.
Are whales buying or selling SHIB?
Whales are buying SHIB after their wallets bought an additional 1.7 trillion tokens in the last 24 hours.
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Shiba Inu Price Prediction — SHIB Mirrors 2023 Pattern, Targets $0.0000456 as Whales Accumulate 1.7 Trillion Tokens
Shiba Inu (SHIB) has dropped today, July 22, to trade at $0.0000149 after a 5% decline in 24 hours. This drop comes after a 38% increase in the last 30 days, but it also appears as if the current decline could be part of a 2023 pattern that supported a Shiba Inu price rally to $0.0000456. Whales might be getting ready for these gains after they bought more than 1.7 trillion SHIB over the last day.
Advertisement Advertisement
Shiba Inu Price Repeats 2023 Bullish Pattern
Shiba Inu created a double bottom between December 2024 and July 2025, and the price has been moving within this pattern for months. A previous analysis by CoinGape had predicted that this pattern might be the reason why the SHIB price could surge to $0.000029 this month.
However, this surge has failed to happen considering that this meme coin has failed to gain above the resistance of $0.0000176 and instead, the price is dropping again. This could show that traders are not looking to buy now, and they could be waiting to see whether the sellers will cause a crash.
During the last quarter of 2023, the SHIB price failed to confirm this pattern in the same way, just like it also failed to rally once the hurdle was hit again this week. However, in 2023, after a few weeks of the price failing to move below this hurdle, Shiba Inu finally surged, in a 300% rally that pushed it to $0.0000456.
If this pattern is being repeated, the most likely target for the Shiba Inu price will be the March 2024 high of $0.0000456, and this will be a 194% rally from the current price of $0.000015. However, if it were to make the same 300% rally that it did between 2023 and 2024, the price might move to $0.000060.
SHIB/USDT: 1-Week Chart (Source: TradingView)The AO bars are supporting this bullish Shiba Inu price as they turn green while remaining negative, which shows that the bearish sentiment is becoming weak. The MFI is also making higher highs, and if this continues, and the AO bars also move to the positive side, the bullish forecast will likely play out in the coming weeks, and $0.0000456 might be an achievable target.
You can get a deeper dive into long term Shiba Inu Price prediction here curated by our analysts.
Advertisement Advertisement
Whales Accumulate SHIB as Momentum Shifts
Data from IntoTheBlock shows that whales are buying SHIB, and this follows an increase in the large holder netflows from 161 billion to 1.93 trillion tokens. This shows that within 24 hours, these SHIB whales have bought more than 1.769 trillion tokens.
SHIB Large Holder Netflows (Source: IntoTheBlock)This data shows that even with concerns about the price dropping after it failed to cross above the double bottom resistance, large traders are not giving up. This is often an indicator that the SHIB price is going to continue with its upward movements.
Based on this on-chain data and the repeat of the 2023 pattern, the ongoing drop might only be temporary, and the Shiba Inu price might repeat the upward trend that it started two weeks back and possibly reach $0.000045.
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Frequently Asked Questions (FAQs)
Shiba Inu price is dropping because of a crash across the broader cryptocurrency market that has caused a spike in selling activity for most tokens.
The 2023 pattern shows that SHIB is still poised for the bullish reversal that is seen in the double bottom pattern, and it might reach $0.000045.
Whales are buying SHIB after their wallets bought an additional 1.7 trillion tokens in the last 24 hours.
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