Shiba Inu (SHIB), the second largest crypto meme coin, is poised for upside momentum after forming a bullish price action pattern. If SHIB can successfully break out of the pattern and close above the $0.000017 level, there is a strong possibility it could increase by 20% to reach $0.000020. Traders and investors have shown strong interest in SHIB, but there is also a significant inflow of the coin onto exchanges, potentially creating selling pressure. Intraday traders have increased their open positions, indicating new positions being formed. On-chain metrics support a bullish short-term setup, but a decisive breakout above $0.000017 is needed to confirm the uptrend.



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