The price of the cryptocurrency Shiba Inu (SHIB) has experienced increased volatility over the past few weeks, with a 6% drop in the last seven days. However, the weekly chart shows the emergence of bullish formations, including an ascending triangle and a cup-and-handle pattern, which could indicate a potential rebound. Breaking above the triangle formation could lead to a rally towards $0.000040 or even $0.000047. Similarly, a breakout from the cup and handle pattern could result in a price increase of over 67% to the $0.000056 zone. On the other hand, sustained bearish sentiment could push the price below the support of the ascending triangle, targeting $0.000016 as a support level. The technical indicators, such as the Relative Strength Index and Moving Average Convergence Divergence, suggest a balanced market with bearish undertones as sellers attempt to gain control.



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