Shiba Inu to Soar 62%? 211M SHIB Sell-Off Sparks Major Comeback Hype!

Jakarta, Pintu News – According to Coingape, Shiba Inu (SHIB) has lost about 86% of its value since reaching its highest price four years ago. On June 17, SHIB was trading at $0.0000117.

Even so, there is a potential upside of 62% as a symmetrical triangle pattern appears on the daily chart.

On the other hand, SHIB holders have sold as many as 211 million tokens at a loss, signaling panic or surrender on the part of short-term holders.

Shiba Inu Price Analysis as 62% Upside Potential Lurks

The price of Shiba Inu (SHIB) has the potential to rise up to 62% after the formation of a bullish symmetrical triangle pattern. This pattern indicates that the price is in a consolidation phase that is narrowing and is likely to experience a breakout in either direction.

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If the breakout occurs to the upside, then SHIB could jump by 62% from the breakout point at the upper trendline of the triangle pattern to the price of $0.0000205. However, this increase will only occur if the price is able to cross the resistance level at $0.0000126.

The 50-day moving average (50-day SMA) is expected to be an important factor in determining the direction of the next price movement.

As long as SHIB is unable to break above $0.0000137, the short-term market sentiment will remain negative and buyers will tend to refrain from buying at low prices.

However, if the price is able to cross the $0.0000126 resistance and also reverse the position of the 200-day moving average (200-day SMA) at $0.0000168 into support, then the potential for a 62% rally in a breakout scenario from a symmetrical triangle pattern will be even stronger.

However, the RSI indicator shows weakness in this bullish outlook, with the current value at 37-signaling that SHIB’s price movement momentum is still bearish.

However, this drop in RSI could also indicate that selling pressure is starting to weaken as it approaches the oversold level of 30.

If there is less pressure from sellers, then this could open up opportunities for price recovery.

211 Million SHIB Sales Could Support Price Recovery

Santiment’s Network Realized Profit/Loss (NPL) indicator shows that many SHIB holders who could not stand the price drop-often referred to as “weak hands”-have sold their tokens.

On June 16, these holders sold 211 million Shiba Inu coins at a loss, recording the highest realized loss since March 2024.

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In most cases, a sharp drop in the NPL indicator like this usually signals a bullish outlook for Shiba Inu prices. This reflects a capitulation, where prices hit a local low and make room for a potential recovery, especially if the “strong hands” start accumulating.

For example, in March 2025, when traders sold 141 million SHIBs at a loss, the SHIB price rose from $0.000013 to $0.000014 in just a few days, according to Santiment data.

An even bigger increase occurred in March 2024, when traders sold 884 million tokens at a loss – triggering a 56% price rally, from $0.000023 to $0.000036.

If this historical pattern repeats itself – something that happens quite often with meme coins and other crypto assets – then SHIB investors will likely continue to defend the support level.

The entry of a new buyer could trigger a price increase of 62%, as suggested by the current technical structure.

Overall, the price of Shiba Inu has the potential to surge up to 62% if it manages to break the upper trend line of the narrowing symmetrical triangle pattern.

Key on-chain indicators point to a short-term capitulation action, where 211 million tokens were sold at a loss by weak hands, opening up the opportunity for a healthy price recovery phase.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Can Shiba Inu Price Rally 62% as 211M SHIB Sell-Off Signals Capitulation. Accessed on June 18, 2025