NewsBTC 2024-04-03 18:00:42

Shiba Inu To Rally 100% To $0.000062? Analyst Reveals Why This Is Possible

A crypto analyst has identified a key technical indicator in the Shiba Inu price chart that suggests that the cryptocurrency is set to witness a major price rally to new highs. Asymmetrical Triangle Signaling SHIB Price Surge Appears A crypto analyst identified as Captain Faibik on X (formerly Twitter) has unveiled a distinctive technical pattern in Shiba Inu’s price chart. Sharing a 6-hour chart of Shiba Inu’s native token, SHIB against Tether (USDT), the analyst revealed an asymmetrical triangle pattern, which indicated that the cryptocurrency may enter a bullish trend during the first two weeks of April. Related Reading: Buying Opportunity: Crypto Institutional Investors Pump $862 Million Into The Market The asymmetrical triangle pattern is a technical indicator which displays a period of consolidation before the price of a cryptocurrency is forced to break out or down. Oftentimes, the triangle patterns are interpreted as bullish, especially if the cryptocurrency is already in an uptrend. This is because the emergence of the technical pattern is a sign that the price of the token will continue moving upwards. Regarding Shiba Inu, Faibik has interpreted the technical pattern as a potential bullish breakout, predicting an upcoming rally that could see the price of Shiba Inu doubling. The price chart has revealed that SHIB’s price could potentially rise between 0.00058 to 0.00062 around the second to third week of April. At the time of writing SHIB is priced at $0.000271, reflecting a 0.45% dip in the last 24 hours. Over the past week, the cryptocurrency saw a decrease of more than 10%. The emergence of this new technical pattern may offer investors renewed optimism, viewing declines as buying opportunities. Shiba Inu Surpasses Bitcoin In Trading Volume on Indian Exchange Prominent Indian crypto exchange, WizarX recently revealed its top five most traded cryptocurrencies in March 2024, with Shiba Inu dominating the pack as the platform’s most traded cryptocurrency. The doggy-themed meme coin claimed first position, surpassing Bitcoin (BTC), the world’s largest cryptocurrency, which took second place. Related Reading: Tether Buys 8,888 Bitcoin For $618 Million, But Why Is Price Down? Ranking third to fifth place were Pepe (PEPE), Dogecoin (DOGE), and Floki (FLOK), respectively, which are some of the trendiest meme coins in the crypto space currently. Shiba Inu’s accomplishment as the most traded cryptocurrency on this Indian crypto exchange underscores its growing popularity across various global regions. The meme coin recently made headlines for being one of the top most searched cryptocurrencies on Google. Moreover, SHIB has consistently experienced a notable increase in demand and interest from investors and traders alike within the crypto space. SHIB price recovers to $0.000027 | Source: SHIBUSDT on Tradingview.com Featured image from Analytics Insight, chart from Tradingview.com

Наиболее читаемые новости

Ripple Escalates Pro-Crypto Advocacy with $25...
2024-06-02
PEPE Gains Market Value Despite Initial Decli...
2024-06-02
BlockDAG’s Dashboard Innovations Propel $39M...
2024-06-02
Bipartisan Lawmakers Press Biden To Overturn...
2024-06-02
Veteran Trader Peter Brandt Predicts 100 Oz o...
2024-06-02
Terra Luna Classic Community Prepares for v3....
2024-06-02
Bitcoin Bull Nayib Bukele is President of El...
2024-06-02
Why Furrever Token’s 25% Bonus Makes It the T...
2024-06-02

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения