The cryptocurrency Shiba Inu (SHIB) is showing signs of bullish momentum, with analysts predicting a breakout target of $0.000066651 based on the formation of a cup-and-handle pattern on the weekly chart. SHIB has seen mixed performance recently, with gains over the past week but a decline in monthly metrics. Analysts believe SHIB is positioning itself as a potential "catch-up play" to Dogecoin and is nearing a breakout from a four-year downtrend. Other analysts have also highlighted bullish signals on lower timeframes and set ambitious targets for SHIB, including $0.000081 and $0.000155. However, these targets depend on sustained bullish momentum, and a breakout above a descending channel seen on the daily chart.



Other News from Today