Shiba Inu, a cryptocurrency, has been experiencing a downtrend but may have potential for a reversal. An analyst suggests that Shiba Inu needs to break the $0.00001856 resistance level in order to start moving towards higher levels. Despite the recent decline, long-term holders still have gains, with the asset rising by 65.4% over the past year. Shorter-term gains suggest potential consolidation, but a recent 1.5% drop indicates ongoing market uncertainty. The analyst also highlights potential price targets, ranging from $0.00004807 to $0.00007078 in bullish scenarios, and $0.00001028 in the event of a market correction. The performance of Shiba Inu is closely linked to Ethereum's price action. Another analysis presents a more optimistic projection, suggesting that Shiba Inu has broken out of a Falling Wedge pattern, which could result in a significant price increase. This analysis predicts a potential rally of 422%, pushing Shiba Inu's value to $0.00008841, a new all-time high.



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