Shiba Inu confirms the end of a hellish phase with a double bottom and a rebound anticipated
Shiba Inu confirms the end of a hellish phase with a double bottom and a rebound anticipated
Shiba Inu (SHIB), which has endured one of its worst downturns in recent months, is absorbing strong buying interest near the bottom and has halted its downward trend, preparing for a full-scale trend reversal.
According to crypto-focused outlet U.Today on February 10 (local time), Shiba Inu went through a prolonged bearish phase marked by consecutively lower highs and lows, followed by a massive sell-off that broke below key support levels and moving averages. While market pessimism reached extreme levels, recent price action suggests that the most painful phase of the decline may have ended. Major indicators such as Shibburn are signaling a recovery in demand, and analysts believe investor sentiment has passed its worst point.
Shortly after reaching a new local low, Shiba Inu attracted rapid dip-buying and posted a strong rebound. As selling pressure gradually weakened, the price moved into a stabilization phase rather than continuing to fall. Notably, a recent spike in trading volume is interpreted as evidence that short-term traders are exiting while long-term investors begin building new positions. Market experts assess this shift as a transition from panic selling to an accumulation phase.
From a technical perspective, the potential formation of a double-bottom pattern is drawing the most attention. When the price revisited a support zone that had previously driven a rebound, buyers stepped in aggressively, confirming the strength of that level. If this area holds firm and upward momentum is secured, a trend reversal is likely to be confirmed. TradingView chart analysis shows volume spikes occurring near the lows, indicating active hands changing and renewed market participation.
However, for Shiba Inu to enter a full recovery phase, it must break back above key moving averages that once acted as support but have since turned into resistance. Sustained moves above these upper resistance levels are necessary to establish the technical basis for a broader recovery rally. According to CoinGlass data, the market’s liquidity structure is gradually reorganizing in favor of bullish participants.
Shiba Inu has successfully overcome the most severe downward pressure generated during the recent breakdown and has revalidated market demand. As Bitcoin (BTC) records a massive bullish liquidation imbalance of 7,132% and indicators for major assets such as Ethereum (ETH) and Dogecoin (DOGE) improve, while a significant announcement regarding XRP is anticipated, capital inflows across the broader ecosystem are strengthening.
*Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. The publisher is not responsible for any investment losses incurred based on this content.*
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