Shiba Inu Price Prediction as SHIB Surges 40%
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DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . Shiba Inu has enjoyed an explosive rally this week, fueled by a growing bullish sentiment in the crypto market. But can SHIB continue to explode in the months ahead? Let’s find out. SHIB Outpaces Market, Breaks Resistance Against DOGE It seems the SHIB Army is waking up. Shiba Inu has shown incredible strength this week, outpacing every other top 20 cryptocurrency. However, the big news is its breakout against Dogecoin. The TradingView SHIB/DOGE pair shows that SHIB has just broken a multi-month selloff against Dogecoin with an explosive green candle. It has now created a higher high, indicating the 6-month downtrend may be over. And zooming out, the move confirms a new higher low amid a longer-term uptrend. The Fibonacci Retracement tool tells us that SHIB could double in value against DOGE on the next leg. It’s the same story when analyzing SHIB against USD. Prominent Shiba Inu community member and trader SHIB Knight notes that SHIB is forming a “bull flag” and predicts an uptrend continuation. According to the analyst, the next lower time frame rally will push SHIB 20% higher to $0.00024. On a higher time frame, analyst Solberg Invest highlights that SHIB’s recent pump has broken out from a falling wedge pattern. According to the analyst, this could enable a price increase to $0.00005. The Shiba Inu price chart ticks all the boxes – but what about its fundamentals? Shown by its recent momentum, SHIB remains a fan-favorite in the meme coin space. And as the second largest meme coin after Dogecoin, it holds exposure to the sector’s overall…
Filed under: News - @ September 29, 2024 12:07 am