CandleFocus Shiba Inu preps for a big rally as Shibarium accounts jump
2024-10-31
Author: Content Editor
The Shiba Inu token, the second-largest meme coin, may experience a strong bullish breakout. It has been trading at $0.000018 for the past few weeks and has gained around 70% from its lowest point this year. One potential catalyst for Shiba Inu is the positive momentum in the Shibarium network, with an increase in the number of accounts and transactions. Additionally, Shiba Inu may benefit from a potential Bitcoin rebound, which could trigger a meme coin rally. The daily chart shows the formation of a double-bottom pattern and a bullish pennant pattern, indicating the potential for a bullish breakout. If this happens, SHIB could retest resistance levels and potentially increase by 60% from its current price.
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