Analyst Tom Tucker identifies a double bottom formation in Shiba Inu, suggesting a potential 62% price rally despite market weakness due to geopolitical tensions.
Shiba Inu hit a 16-month price floor of $0.00001004 amid broader market pressure following Bitcoin's drop below $100,000 and escalating Middle East tensions.
Whale holdings in Shiba Inu have dropped by 80% as open interest falls to $122.97 million, reflecting reduced speculative activity and leveraged trading amid market uncertainty.
The double bottom pattern on the daily chart indicates a potential price recovery for Shiba Inu if critical support at $0.00001030 holds, with a target of $0.00001752.