The Shiba Inu cryptocurrency has seen a surge in price, with a 12% increase that has broken a long-standing channel pattern. The boost in trading volume has propelled the coin to a price of $0.00001717 and formed a bullish engulfing candle. The rally has surpassed key moving average lines and created a triple white soldier pattern. Fibonacci levels suggest the coin may reach the 61.80% and 78.60% levels, potentially resulting in a 100% surge. However, there is slight weakness indicated by the long-to-short ratio and over $1 million worth of positions being liquidated in the past 24 hours. The coin's crucial support levels are at $0.00001584 and $0.00001449.



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