CandleFocus Market Expert Sees Shiba Inu Spiking 326%: Here’s Why
2024-09-27
Author: Content Editor
According to market analyst Javon Marks, Shiba Inu (SHIB) is displaying bullish signals after breaking out of a falling wedge pattern. Marks suggests that SHIB could potentially reach a target price of $0.000081, which would represent a significant increase of 326% from its current levels. The falling wedge pattern indicates the end of a downtrend and the start of a bullish reversal. Shiba Inu formed this pattern after a drop from its yearly peak, leading to two converging lines that ultimately broke, signaling a potential price reversal. SHIB has shown strength after the breakout and could experience a larger move. It recently closed with a 22% gain, reaching its highest level since July. Breaking above the Keltner Channel and positive directional momentum indicators further support the idea of continued rally. Currently trading at $0.00001917, SHIB has seen a 21% increase in the past 24 hours. However, while the breakout is promising, SHIB needs to maintain its bullish momentum to reach the ambitious target.
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