#ShibaInu continues to follow a well-defined downtrend pattern, with the latest price action reinforcing the broader bearish structure.
The SHIB/USDT 4H chart highlights a familiar sequence that repeated throughout the decline. A brief rebound has followed each sharp sell-off, only for earlier gains to be wiped out as the retested resistance attracts fresh selling pressure.
Shiba Inu confirmed this in the early June retest, where its price peaked near $0.00000558. What followed was a sharp decline to a new low of $0.00000430 five days later. Another fakeout happened with a brief rally to $0.00000520 on June 15. Bears regained control and dragged SHIB lower.
As long as $SHIB remains below the 100 MA and the nearby resistance zone around $0.0000046, the broader bias continues to favor the downside. The downside target is a potential decline toward the next support region near $0.0000010, a 77% crash from the current price level.
https://t.co/lMeSzifIvm
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I looked into the sudden SHIB holder “growth” because I wanted to see whether it was real organic adoption or just inflated numbers.
The contract behind it is called TheShibBull, created by WoofSwap:
https://t.co/uuJgf4WkKT
Here is what the contract actually does.
It sends tiny amounts of SHIB, defaulting to 1 SHIB, to 200 generated addresses per call. These are not wallets belonging to people who bought SHIB, joined the community, or decided to become holders. The addresses are generated by the contract using block data and hashes, then sent dust so they appear as SHIB holders on trackers.
Repeat that enough times and you can add thousands of addresses to the holder count without adding real buyers, real volume, real retention, or real community growth.
The contract also allows its owner to change the airdrop amount and withdraw the SHIB held inside at any time. So this is not a locked community distribution or some trustless holder initiative.
And now WoofSwap is publicly posting about SHIB reaching
$SHIB couldn't break through, despite the existing momentum on the market https://t.co/T7NjsdHyiT
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