CandleFocus This MEME Coin Set For 30% Rally, In-depth Analysis
2024-12-05
Author: Content Editor
Shiba Inu (SHIB), the second-largest meme coin, is poised for notable upside momentum, according to CoinPedia's technical expert. SHIB recently broke out of a consolidation zone and could potentially soar by 30%, reaching the $0.000041 mark. The coin is trading above the 200 Exponential Moving Average (EMA) and the Relative Strength Index (RSI) suggests it still has room to rise. On-chain metrics show significant outflow of SHIB from exchanges to wallet addresses, indicating accumulation by long-term holders and a buying opportunity. Traders have also shown bullish sentiment, with the SHIB long/short ratio on Binance standing at 5. SHIB is currently trading around $0.0000315 and has seen a price gain of over 4.35% in the past 24 hours.
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