The post Shiba Inu Is Forming A Bullish Flag, Time To Buy The Meme Coin? appeared on BitcoinEthereumNews.com.

Shiba Inu (SHIB), looks ready for a big rally based on current market dynamics, according to experts. They shared that the Shiba Inu price chart was creating what appeared to be a bullish flag pattern. Source: X The bullish flag pattern is characterized by a little bit of downward consolidation after a big upward price move akin to a flag to a pole. The flag is a period of consolidation that makes up the flagpole behind the initial price surge that forms the flagpole. – Advertisement – Shiba Inu is Looking More Bullish Now Than Ever Looking at other analysts’ opinions, Javon Marks stated that Shiba Inu (SHIB) is once again at the center of attention. Its daily chart, when writing, showed promising signs of entering another bullish phase. The expert was buzzing about the potential for a significant price surge after SHIB recently breached key resistance levels. According to his recent analysis, the meme coin could be on the verge of a major rally. Source: X He stated that it aimed for a breakout target of $0.000081, which represents a potential increase of over 216%. If the momentum continues, SHIB investors could witness a price explosion that more than triples its current valuation. – Advertisement – Current Market Struggles However, Shiba Inu’s market performance has been somewhat restrained. At present, the trading of SHIB has remained at $0.00002749, up with an 11.31 % price increase in the last day. The market cap stood healthy at about $16.19 billion. Pundits anticipated the upward push in SHIB’s price and daily trading volume. The meme coin eventually picked up upward momentum during the 24-hour time frame. Shiba Inu charts showed that SHIB has been in a consolidation phase after a significant upward surge and being “locked in” within a very narrow range…

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Filed under: News - @ November 23, 2024 10:42 pm