CandleFocus Shiba Inu (SHIB) Price Prediction for February 23
2025-02-22
Author: Content Editor
The crypto meme coin Shiba Inu (SHIB) could see a 30% increase to reach $0.000020 if it maintains its position above the $0.00001565 level. Despite this positive outlook, exchanges have seen an influx of $1.21 million worth of meme coins. SHIB is showing strong bullish potential with a confirmed double-bottom pattern and rising open interest. Technical analysis indicates a potential upside momentum, supported by a bullish divergence and a bullish engulfing candlestick pattern. If SHIB closes above $0.00001565, it could continue its upward movement to hit $0.000020. However, the coin remains below the 200 Exponential Moving Average, indicating a downtrend. Traders are bullish, leading to increased long positions and open interest, while long-term holders are selling off their holdings. Overall, it suggests that SHIB is currently being dominated by bulls and may experience a significant surge in price soon.
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