CandleFocus SHIB bull flag could trigger 48% price explosion
2024-11-21
Author: Content Editor
The crypto coin Shiba Inu (SHIB) has experienced a surge in price, making it the 11th largest cryptocurrency by market cap. It has seen a 60% increase in price from November 4 to 11, reaching a high of $0.00002921 before pulling back. The monthly returns are currently at 32.10% and year-to-date gains are at 133.54%. Shiba Inu has evolved from its joke origin and now has decentralized finance applications, a stablecoin in development, a layer-2 scaling solution, a high burn rate, and various partnerships. With Bitcoin reaching new all-time highs and a bullish chart pattern indicating a potential breakout, Shiba Inu is well-positioned to benefit from a renewed bull market. A technical analysis suggests a price target of $0.000037, which would require a 48% rally.
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