CandleFocus

Shiba Inu Nears Key Barrier; Can SHIB Surge to $0.00003?

Author: Content Editor
The Shiba Inu token, a meme-based cryptocurrency, has experienced a pullback but has been steadily climbing recently. Buyers are pushing the price higher, and there is interest in breaking through the key resistance level at $0.000021676. The optimistic outlook is supported by the formation of higher lows and the RSI positioning, indicating bullish momentum. On-chain data shows that large holders are shifting their assets off exchanges, suggesting growing confidence and reducing the token's supply. Accumulation by non-exchange addresses also indicates a potential breakout. While there has been recent volatility, recent gains indicate a solid bullish trend with the potential for further price appreciation. If buying pressure continues, the token could potentially double in price and reach $0.00003 by the end of the month.

Related News