The post Can Shiba Inu Reach New Price Heights? appeared on BitcoinEthereumNews.com.

As Bitcoin reaches unprecedented levels, Shiba Inu (SHIB) appears to be positioning itself for a potential price surge. Currently trading at $0.00001921, SHIB has experienced a 2% increase over the past 24 hours and a substantial 9.5% rise over the week. Should this trend continue, the total profit potential for SHIB holders could reach an impressive $3.45 billion. Are Current Holders in a Profitable Position? Recent data from IntoTheBlock reveals that approximately 44% of SHIB holders are either breaking even or making profits. Technical analysis suggests a bullish trajectory for the token in the near term, with projections estimating a rise that could take SHIB above the $0.000045 threshold, marking a 149% increase. What Are the Key Resistance Levels for SHIB? Experts note that Shiba Inu’s price patterns resemble an inverse head and shoulders formation, a common bullish signal. The immediate resistance is set at $0.00002050. A significant volume surge may enable SHIB to breach this level, propelling it toward $0.00004567. Conversely, a pullback could see prices retreat to support levels around $0.000016 and $0.000013. Short-term investors entering the market, coupled with ongoing confidence from long-term holders, indicates a bullish sentiment for SHIB’s future. Key observations include: 44% of SHIB holders are currently in profit or at least not in loss. Technical analyses predict a possible price increase of 149%. Current price patterns suggest strong bullish signals. The indications point toward a promising trajectory for Shiba Inu, as market participants are encouraged to monitor price movements actively to capitalize on potential profit opportunities. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/can-shiba-inu-reach-new-price-heights

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Filed under: News - @ November 8, 2024 12:27 pm