The Shiba Inu price has maintained its value above its crucial watch point of $0.000010 despite recording a negative price action over the past few days. This shows a strong buying interest around that level. Furthermore, this also hints at a potential bullish reversal if the memecoin successfully retests that mark.
Shytoshi Kusama, one of the core developers of the Shiba Inu project has recently teased AI developments in the ecosystem. In a post on X, Kusama wrote, “JULY is… JUL-AI. Get ready for a wave of announcements, releases, and conversations about everything we’ve built so far and where we’re headed next.”
Will this act as a catalyst for Shiba Inu price with a strong bullish reversal in the upcoming time? In this article, we will explore the market sentiments and possible short-term Shiba Inu price prediction.
Shiba Inu Price Chart Forms Triangle Pattern
Amid the present market volatility, the Shiba Inu token has formed a triangle pattern and continues trading within it since April 2025. Notably, it has lost approximately 4% in the last seven days and 14.02% over the past month. This has resulted in it constantly failing to breach its watch zone of around the $0.0000120 mark.
The Bear Bull Power (BBP) indicator has been mostly negative since mid-June, signaling strong selling pressure for the meme coin in the market. Further, the declining intensity of the red bars suggests the bearish momentum is reducing, but a strong reversal is still not visible.
The RSI is presently at 40.34, hinting at a slightly bearish momentum. Additionally, its recent attempt to rise above its moving average (yellow line) shows a weakening bearish trend. If the level rises above 50, it may suggest a growing buying pressure.
If the market favors the bulls, the Shiba Inu price could retest its resistance trendline of the triangle pattern this week. Increasing positive sentiment may push the value toward its important resistance level of $0.00001320 in the upcoming time.
On the contrary, if the bears outrun the bulls, the price of SHIB memecoin may retest its immediate important support trendline of $0.000010150. In an extreme bearish scenario, the SHIB coin price could retest its low of $0.00000925 that was last recorded on 21st of February 2024.
Also Read: Bitcoin Cash Price Hints Bullish Breakout: Is $625 Next?
