CandleFocus Shiba Inu Ready for Breakout: Analyst Targets $0.00047 Based on Buy Signals
2024-10-07
Author: Content Editor
Market analyst Cantonese Cat has identified Shiba Inu (SHIB) as one of the few altcoins currently showing a buy signal. This is based on the "L3 Banker Fund Flow Trend Oscillator." Cantonese Cat suggests that this rare signal indicates the potential for a significant price increase. The last time this signal appeared for SHIB was in 2023, and it was followed by a substantial rally in 2024. The chart indicates that SHIB may be in a position for a similar rally, with a target price of $0.00047, representing a potential 30x gain. However, the analyst cautions that breaking through strong resistance zones is necessary to achieve this target. Cantonese Cat also compares the SHIB chart to a broader altcoin market index, which suggests the potential for massive gains. While the analyst expects a breakout above resistance arcs, he considers a more conservative expectation of a 10x gain in a rally to $0.000139. As of the reporting time, SHIB has gained 7% over the past 24 hours.
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