Shiba Inu Price Poised To Remove More Zeros As SHIB Burn Rate Spikes 1000% ⋆ ZyCrypto
The post Shiba Inu Price Poised To Remove More Zeros As SHIB Burn Rate Spikes 1000% ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Shiba Inu (SHIB) price has gained by 20.4% to trade at $0.00001603 at the time of writing. The recent gains came amid a cryptocurrency market recovery in the last 48 hours. Besides the broader market recovery, a recent X post by Elon Musk spiked interest in Dog-themed meme coins. Will Shiba Inu Post A 498% Rally? According to analyst Javon Marks on X, Shiba Inu is on the verge of a major breakout rally that could see prices climb by more than 498%. The analyst pointed to the formation of a falling wedge pattern on the Shiba Inu daily chart that confirmed a bullish divergence. In the analysis, the trader noted that if the bullish thesis proves true, SHIB could reach $0.000081. “Prices of Shiba are currently nearing the converging or breakout point of a massive falling wedge pattern on the daily (1D Chart). This can spark the next phase of heavy bullishness, with a target at $0.000081 still in play due to an already holding larger breakout,” the analyst said. $SHIB (Shiba Inu)’s ≈6X: Prices of Shiba are currently nearing the converging or breakout point of a massive Falling Wedge pattern on the daily (1d Chart) and with a recent confirmation of a Regular Bullish Divergence, this can be pointing to a bullish breakout! This can spark… pic.twitter.com/sAUSyrH4q0 — JAVON⚡️MARKS (@JavonTM1) August 17, 2024 The SHIB four-hour chart shows that ETH has been consolidating after recovering from the August 5 crash. For a bullish trend to be confirmed and set the pace for a massive rally, SHIB must break out from the upper trendline of the parallel channel. Breaking below this channel could trigger further price declines. Advertisement   The Moving Average Convergence Divergence (MACD) line is flipping bullish as it has moved above the signal…
Filed under: News - @ August 24, 2024 9:08 pm