CandleFocus Will Shiba Inu rally 50% after breaking key resistance?
2024-10-30
Author: Content Editor
Shiba Inu (SHIB), a cryptocurrency, is experiencing a breakout in price, indicating a potential rally. Technical indicators and rising on-chain metrics are showing positive signs for SHIB. Traders and investors are watching for a daily close above $0.000021, which could lead to a 50% price increase. The breakout is supported by SHIB's position above the 200-day EMA. However, failure to break $0.000021 could result in renewed selling pressure. SHIB's on-chain metrics and trading volume have also been positive, suggesting optimism among market participants. The next few trading sessions will be crucial in determining whether SHIB will continue its rally.
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