Shiba Inu Price Analysis Hints 35% Upside as Buyers Break 50-Day Consolidation
Highlights
- The Shiba Inu price breakout from the triangle pattern should release the build-up of bullish momentum and resume the prevailing rally.
- Over the past 3 months, the Shiba Inu has obtained dynamic support from the 100-day EMA slope indicating an intact bullish trend..
- The 24-hour trading volume on the Shiba Inu is at $321.5 Billion with a 33% loss.
Shiba Inu Price Analysis: Shiba Inu, one of the top names in the meme coins sector, stands at a bullish crossroads. The meme coins are siphoning additional momentum with the Bitcoin price crossing the $67,000 threshold. The Shiba Inu token jump shows a potential trend reversal arriving with Bitcoin starting its post-halving rally. Will this $14.4 billion meme coin cross the $0.000024 mark with a fresh buying spree?
Also Read: Shiba Inu Takes Center Stage With Dedicated Payment Page On Binance Pay
SHIB Eyes $0.00003285 with Pattern Breakout and Increased Demand
The downtrending SHIB price action shows the high possibility of a trend reversal as the broader market recovery gains momentum. With the recent jump of 13% over the past 6 days, the meme coin signals an end-of-correction phase with a pattern breakout.
As the recent surge overcomes the overhead resistance trendline, Shiba Inu shows a symmetrical triangle breakout. Furthermore, the meme coin shows a double bottom reversal with a neckline at $0.0000262.
As the underlying demand increases, the multiple pattern breakout signals a potential bull run. This is because the trapped momentum within the pattern can now pump the SHIB price in the coming days.
Currently, the SHIB price trades at $0.0000245 with an intraday loss of 2.1% following the 1.83% surge last night.
The triangle breakout rally shows potential to reach the $0.000028 mark by the end of this month. Optimistically, an uptrend continuation could reach the $0.00003285 mark, if the momentum sustains.
On the flip side, a correction in the broader market might dump the meme coin under the $0.00002 mark.
Technical Indicator:
- Exponential Moving Average: The bullish crossover in the 20 and 50 day EMAs will put the crucial average lines in a positive alignment.
- Directional Movement Index: An uptick in the DMI line reflects a rise in the trend momentum with the triangle breakout. Further, the VI lines are in a positive alignment projecting a bullish phase in motion.
- XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy
- FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?
- “Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs
- CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP
- Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
