\nShiba Inu price prediction: SHIB flaunts a strategic cup and handle but a double-top pattern in the daily time frame could engage the breakout.\t\t\t\t<\/p>\n
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<!– <\/p>\n –>\n <\/p><\/div>\n Shiba Inu Price Prediction: With the meme coins going frenzy over the week, the Shiba Inu price trend gains momentum<\/a> and continues to form a bullish pattern. The SHIB price has increased by 25% in the last ten days and continues the streak of bullish candles. Further, Bitcoin approaches the $45K mark and teases a stronger bullish spirit for the crypto market.<\/span><\/p>\n <\/p>\n Also Read: Shiba Inu Burn Rate Soars 83000% As Whale Shifts 4 Tln SHIB<\/a><\/span><\/p>\n The ongoing recovery trend in Bitcoin spikes the momentum not just for the meme coins but the entire altcoin sector. As the SHIB price continues the recovery rally, the buyers hatch a trend continuation pattern called the double bottom pattern. With the right bottom under construction, SHIB jumped 52% in the last 52 days to reach the psychological milestone of $0.000010. Further, with the drastic improvement in the last few days, traders have started to agree to the extra premium willingly.<\/span><\/p>\n Shiba Inu price<\/strong><\/a> approaches the bullish pattern\u2019s neckline resistance\u2014at $0.00001073 and teases a bullish breakout. The intensifying demand propelling the meme coin is evidently clear in the rising trend of the intraday trading volume.<\/span><\/p>\n Technical analysis reveals a powerful double-bottom pattern forming, and its potential breakout target appears increasingly attainable thanks to a recent bullish crossover on the MACD indicator. This suggests a significant shift in momentum, favoring upward movement.<\/span><\/p>\n<\/blockquote>\n <\/p>\n The daily timeframe further strengthens this bullish outlook, revealing a robust technical structure. The MACD\u2019s clear buy signal adds fuel to the fire, indicating strong upward momentum.\u00a0<\/span><\/p>\n However, traders must be cautious due to the presence of a higher price rejection as the long-range candles reflect a strong overhead supply. Therefore, the market participants must stay cautious of a bullish failure which may lead to a new correction phase.\u00a0<\/span><\/p>\n The strong recovery spirits driving the bill run in the crypto market keep the correction chances to a minimum. Further, the bullish signals given by the momentum indicators support the breakout possibility and a new rally for Shiba Inu.\u00a0<\/span><\/p>\n <\/p>\n Moreover, as long as the buyers uphold the dominance at the psychological mark of $0.00001, the meme coin will signal a breakout trend. In case of breakout, the price of Shiba Inu will skyrocket to the $0.000014 mark. Conversely, a reversal will signal strong correction but chances are slim.\u00a0<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n
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\n <\/a>\n<\/div>\nShiba Inu Price Prediction: Can A Double Bottom Help SHIB Take Off Above $0.00001?<\/b><\/h2>\n
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Is SHIB Price Heading to $0.000014?<\/b><\/h2>\n
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