Shiba Inu price continued its strong downtrend this week, even as its token burn rate surged by over 800%. Shiba Inu (SHIB) token plunged to a low of $0.00001160, its lowest level since April 9. It has dropped by 35%…

Shiba Inu price crashes as it eyes a crucial support

Crypto Sat recently took to X to share a technical insight on Dogecoin, 
revealing that the asset is showing signs of accumulation following a sharp 
correction. According to the analyst, the 2-hour chart is beginning to shape a 
potential double bottom pattern. Should this structure be confirmed, it might 
signal a renewed upward push for DOGE, catching the interest of short-term 
traders and long-term holders. Make-or-Break Moment For Dogecoin: The Neckline 
Battle Ahead Dogecoin is currently displaying the characteristics of a double 
bottom formation, a classic reversal setup that could signal a shift in 
momentum, as noted by Crypto Sat. The first bottom was established around the 
$0.170 mark, following a significant price drop, where buyers initially 
stepped in to defend the zone. Related Reading: Dogecoin Must Hold This 
Level—Or Risk A 30% Price Crash Shortly after, DOGE made a move back down for 
a second test of the same support area, with a higher low structure forming, 
suggesting weakening bearish pressure and the emergence of early accumulation. 
The key area to watch is the neckline resistance, which sits in the $0.198 to 
$0.200 range. Crypto Sat emphasizes that a breakout above the neckline would 
serve as strong technical confirmation of a shift in market sentiment. If 
bulls manage to push through, it might open the door for a sustained upward 
rally, as traders gain confidence in the reversal setup taking hold. Here Are 
Key Signals To Watch In the analysis, Crypto Sat has outlined several key 
signals to watch as Dogecoin&#8217;s price action tightens. One early bullish sign, 
he notes, is the rising volume on the second bottom, a subtle but important 
clue that buyers may be stepping in with growing conviction. Volume often 
leads price, and this uptick could mark the start of renewed upward momentum. 
Related Reading: Dogecoin Breaks Out Of Bull Pennant—What’s The Target? The 
crucial level to monitor is the resistance zone around $0.200. A strong 
breakout above this zone could trigger a technical shift, paving the way for a 
potential rally toward the $0.220 and $0.230 range. Such a move would confirm 
the double bottom formation and likely attract more bullish participation as 
confidence builds. However, if price fails to break through the neckline, 
support around $0.165 becomes the next critical level. A bounce from that zone 
would keep the pattern alive, but a clean drop below it could invalidate the 
setup and suggest further downside risk. Sharing his personal outlook, Crypto 
Sat believes DOGE may be positioning for a breakout, but cautions traders to 
be patient. &#8220;Let the neckline decide the next big move,&#8221; he advises, 
underscoring the importance of watching for confirmation before making 
aggressive plays. Featured image from Pixabay, chart from Tradingview.com

Dogecoin Sets The Stage For A Liftoff With Key Reversal Pattern

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Spanish banking giant BBVA is reportedly advising its wealthiest clients to 
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trading to its customers. According to a report by Reuters, BBVA has advised 
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After clearing a key procedural vote, the GENIUS Act faces a final decision in 
the Senate before moving to the House of Representatives.