Is a $0.0000012 SHIB Price Possible?
The SHIB price is expected to consolidate before a breakout, probably surpassing the $0.00001 mark, with a daily trading volume of $112.5 million showing a 12.7% loss.
For almost two weeks, the Shiba Inu coin has been developing a bullish pennant pattern, recharging buying pressure before a potential leap.
Currently trading at $0.0000087, the market sentiment is uncertain. However, the pattern suggests upcoming price resonance before a decisive breakout, potentially surging 22% higher to hit the initial target of $0.00001058, with an extended target of $0.000012.
Has the Uptrend Begun?
On the weekly chart, the Shiba Inu price is down, within two downsloping trendlines, with potential intense supply at the overhead trendline around $0.00135. A breakout from this barrier would signal a bullish trend.
- Exponential Moving Average(4-hour): Trading above the 100-and-200-day EMA accentuates the short-term bullish trend.
- Moving Average Convergence/Divergence(weekly): A bullish crossover state between the MACD and the signal line indicates a higher trend leap in the buyer’s favor.
Hot Take: Shiba Inu Price Prediction
After creating a local top at $0.05, the SHIB price recovery turned sideways, resonating within the two converging trend lines of a pennant pattern. The alternate order of green and red daily candles indicates no clear dominance of either party. However, with the prevailing bullish trend and uptrend continuation pattern, the SHIB price is likely to resume on a recovery path.
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