SHIB
Shiba Inu Targets 45% Price Explosion
Published
3 months agoon
By
adminThe anonymous crypto analyst pullbacksignal has published a technical analysis of Shiba Inu (SHIB) via TradingView, which attests to the cryptocurrency a strong upside potential. In the 4-hour chart against Tether (USDT), the Shiba Inu price has formed an inverse head and shoulders pattern, traditionally recognized as a bullish reversal signal following a downtrend.
Shiba Inu Price Eyes 45% Rally
The inverse head and shoulders pattern is marked by three troughs with the middle trough (head) deeper than the flanking ones (shoulders), and it is the opposite of the traditional head and shoulders bearish pattern. The shoulders are ideally of equal depth, and the head is a clear dip below the shoulders.
A key feature of this pattern is the ‘neckline,’ a resistance line drawn by connecting the high points of the two troughs forming the shoulders. A decisive breakout above this neckline is generally perceived as a confirmation of the pattern and signals the start of a potential bullish trend.
Related Reading
In his chart, the crypto analyst highlights this breakout signal. The neckline, drawn in red, has been breached on Saturday, July 13, with a closing price above this line, signaling bullish momentum.
The left shoulder and right shoulder are aligned at approximately $0.000016, framing the head which dips below $0.000013. This dip, followed by a rebound to the second shoulder, completes the formation and sets the stage for potential upward movement.
Notably, the crypto analyst identifies three potential targets post-breakout which investors might aim for. The first target is at $0.0000209, representing an initial resistance level past the breakout point. The second target lies at $0.0000239 and could serve as a mid-term goal for the price following the breach.
The ultimate target at $0.0000285 reflects the full potential of the breakout, equating to an approximate 45% increase from the neckline breakout level.
Related Reading
Moreover, an important element in the chart is the ascending blue trendline. This line, starting from the base of the head and moving upward through the formation of the right shoulder, underpins the bullish sentiment, illustrated by a rising support level.
This trendline not only confirms the higher lows, which align with the bullish reversal pattern, but also serves as a dynamic support that can guide trading decisions. A bounce off this trendline could offer additional buying opportunities, reinforcing confidence in the continuation of the uptrend.
For traders looking to capitalize on this setup, it is essential to manage risk. The analysis suggests a stop loss at $0.0000140. Furthermore, the pullback level marked at $0.0000150 is highlighted as a crucial support area. If the entire market is about to see another major correction, this price could serve as the ultimate “buy-the-dip” level.
At press time, SHIB traded at $0.00001925.
Featured image created with DALL·E, chart from TradingView.com
Source link
You may like
Whales pile into ENA as token rallies over 96% in 30 days
Billion-Dollar Bank Refuses To Reimburse Customer After $10,000 Stolen From Account – Until the Media Gets Involved: Report
Lawyer Highlights Why SEC Challenges XRP Futures In Bitnomial Case
Blockcast raises $2.85m to scale decentralized content delivery on Solana
BTC Tops $67K, LTC & CHZ Up 4-7%
AI Bot Pumps Meme Coin 7,000% Following $50,000 Gift from Billionaire Marc Andreessen
crypto
Shiba Inu Could Surge 340%, Echoing Its 2021 Peak —Analyst
Published
3 days agoon
October 13, 2024By
adminShiba Inu (SHIB), the parody coin that hit the headlines in 2021, has reignited investor interest. Based on the examination of crypto expert Javon Marks, the token has recently emerged from a declining wedge formation, which may suggest that a substantial price increase is in the offing.
Related Reading
Marks estimates that SHIB might increase by 342% and reach $0.000081, a level not seen since the bull run of 2021. If current trends continue, the canine-inspired digital asset may see a significant price turnaround.
Following that milestone break, the future of SHIB’s price looks promising. According to the estimations, if the token reaches $0.00001794 in mid-November 2024, there will be a 0.65% immediate price gain.
The current position at a neutral 50 of the Fear & Greed Index reveals a balanced state of mind on the market and correlates well with cautious optimism regarding the change in SHIB price. Of late, in the last 30 days, SHIB has been green for half the days, 15, and that too supports further future development.
$SHIB (Shiba Inu) –
Are you prepared for $0.000081!?
With SHIB broken out of a recent Falling Wedge pattern and a much larger (unpictured) resisting trend, an over 342% run from here to it could happen ASAP, and this falling wedge break may only help spark the process 🧨! https://t.co/wSz2eVepSp pic.twitter.com/eefYqFGg1N
— JAVON⚡️MARKS (@JavonTM1) October 11, 2024
The Power Of A Falling Wedge
For the last five months, SHIB has been in a falling wedge pattern, which is a chart pattern in technical analysis that normally trends with a strong bullish reversal. As such, this particular pattern, where the lows are lower and the highs are lower, has proven to be a trigger for breakouts.
In March 2024, the pattern was apparently clear, as SHIB declined from the yearly high at $0.000045. According to Marks, it may be the breakthrough that pushes the token all the way to $0.000081.
Key Indicators Point To Strength
Momentum may be emerging as SHIB trades around $0.00001785 with persistent higher lows. Additionally, the token’s 50-day and 100-day Exponential Moving Averages (EMAs) are lower than the current price, suggesting bullishness.
The fact that SHIB is still trading above its 200-day Simple Moving Average (SMA) indicates that it is in an uptrend over the long term, despite the fact that it is trading below its 50-day SMA, which is often a bearish signal. The confluence of these indicators indicates that SHIB is stable, although it is possible for it to move farther in any direction.
Related Reading
Support And Resistance Levels
Looking forward, Shiba Inu has important support around $0.000017; resistance at $0.000018 and $0.000019. Should the token be able to surpass these resistance thresholds, it may rapidly achieve the target anticipated at $0.000081.
Meanwhile, there still is room for development, but traders and investors should continue to watch closely the activity of the price because the next steps for SHIB can validate the breakout or trigger even more consolidation. Yet considering past trends and technical hints that look hopeful, it might be just a matter of time before SHIB explodes into significant value soon.
Featured image from Pexels, chart from TradingView
Source link
SHIB
Shiba Inu Burn Rate Skyrockets 81% In One Day, Are The Bulls Back?
Published
2 weeks agoon
September 30, 2024By
adminThe Shiba Inu (SHIB) burn rate has surged in the last 24 hours, providing a bullish outlook for the meme coin. This is also significant as it suggests that Shiba Inu bulls are again returning to its ecosystem.
Shiba Inu Burn Rate Surges By 81%
Data from the Shiba Inu burn tracker Shibburn shows that the meme coin’s burn rate has surged by 81% in the last 24 hours, with 3.7 million coins burnt during this period. Meanwhile, the burn rate has surged by an impressive 3,600% in the last seven days, with 2 billion coins burnt during this period.
Related Reading
The surge in Shiba Inu’s burn rate is significant, indicating that the bulls are back in the meme coin’s ecosystem. Since an accumulation trend typically leads to a transaction spike, more SHIB tokens are usually burnt as investors accumulate the meme coin. Data from the market intelligence platform IntoTheBlock also confirms that these Shiba Inu whales have been actively buying the meme coin.
Large transactions have surged by over 13% in the last seven days, with trillions of Shiba Inu tokens traded during this period. In the last 24 hours, these bulls have traded two trillion SHB tokens. Meanwhile, the large transactions reached a recent high on September 26, when nine trillion SHIB tokens were traded.
Shiba Inu’s price has also reacted accordingly to these bullish metrics, surging by over 26% in the last seven days. This rally is expected to extend in October as the meme coin could be on the verge of a historic run. Shiba Inu has always recorded positive monthly returns in October, and this time isn’t expected to be different.
Moreover, the broader crypto market outlook is bullish, which supports Shiba Inu reaching new highs next month. Specifically, there have been projections that Bitcoin (BTC) could reclaim the $70,000 price level in October. Therefore, given Shiba Inu’s strong positive price correlation with BTC, it will run as the flagship crypto moves to the upside.
SHIB Can Rise To As High As $0.000081 Soon Enough
Crypto analyst Javon Marks has predicted that the meme coin can rise to as high as $0.000081 soon enough. He claimed its price had responded massively after noticing multiple confirmed hidden bullish divergences. In line with this, he added that an extended rally towards $0.000081 looks to be in progress.
Related Reading
That represents a price rally of over 300% for Shiba Inu. Marks had also previously predicted that Shiba Inu would delete another zero from its price in this bull run, indicating that the meme coin could still rise higher even after it reaches the $0.000081 price level.
Interestingly, crypto analyst Smile recently predicted that the meme coin could rise as high as $0.05 by 2025. However, for its price to get close to that level, a significant amount of Shiba Inu’s circulating supply will need to be burnt.
Featured image created with Dall.E, chart from Tradingview.com
Source link
24/7 Cryptocurrency News
Shiba Inu Team Shares Big Update On ‘Shib The Metaverse’ Launch
Published
2 weeks agoon
September 30, 2024By
adminThe latest update from Shiba Inu’s team on ‘Shib The Metaverse,’ a virtual playground within the SHIB ecosystem, has garnered noteworthy attention across the crypto landscape. SHIB’s marketing lead, Lucie, revealed that the metaverse’s launch on the meme coin’s ecosystem is closer. This statement, showcasing a game-changing development for the dog-themed token, has reverberated investor optimism globally.
Shiba Inu’s Lucie Hints ‘Shib The Metaverse’ Launch Is Imminent
Marketing lead Lucie took to X on September 29, spotlighting vital details on “Shib the Metaverse: Where the Community Meets, Dreams, and Schemes.” As per her post, the meme token’s ecosystem will finally see the launch of the metaverse in the “foreseeable future.”
Further, the new “space is set to become the beating heart of the SHIB community, where user-generated content, ideas, and collaboration thrive,” Lucie added.
The post pointed out that SHIB holders may think of the virtual playground as the ‘ultimate HQ’ within the ecosystem. With the upcoming rollout, users can chat about fresh ideas, vote on essential proposals, and foster strategies for the ecosystem’s future. This mover is expected to substantially boost activity within the Shiba Inu ecosystem while also solidifying its user appeal.
Meanwhile, additional ecosystem developments spotlighted by the marketing lead in recent X posts have added to optimism about the SHIB coin’s market stance. The dog-themed meme coin’s community reveals how it brought fiat on-ramps to Shibarium, a Layer 2, further revolutionizing the ecosystem.
Intriguingly, Lucie revealed that the future might be even more intriguing, as Shib developers recently explored zkKYC, a privacy-focused method for verifying users without compromising personal data. In addition, “there were plans to introduce fiat top-ups,” the marketing lead added.
SHIB Price Plummets
However, despite the abovementioned advancements, the Shiba Inu coin saw a selloff today. SHIB price slipped nearly 6% to $0.00001873 in the past 24 hours. The coin’s intraday low and high were recorded as $0.00001843 and $0.00001984, respectively. Besides, the weekly chart for the token illustrated a 27% uptick, hinting that today’s slumping movement aligns with the broader market trend.
Coinglass data indicated an 8% downswing in SHIB futures OI to $60.28 million today. Further, the derivatives volume plunged 41% to $356.72 million, mirroring the loss of investor interest in the asset amid the recent price drop. However, the abovementioned advancements and the broader time frame charts have birthed contrasting market sentiments.
CoinGape Media recently reported the SHIB burn rate to have skyrocketed, weighing the scales towards the bullish side for Shiba Inu. Crypto market watchers continue to monitor the token amid recent trend shifts.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Whales pile into ENA as token rallies over 96% in 30 days
Billion-Dollar Bank Refuses To Reimburse Customer After $10,000 Stolen From Account – Until the Media Gets Involved: Report
Lawyer Highlights Why SEC Challenges XRP Futures In Bitnomial Case
Blockcast raises $2.85m to scale decentralized content delivery on Solana
BTC Tops $67K, LTC & CHZ Up 4-7%
AI Bot Pumps Meme Coin 7,000% Following $50,000 Gift from Billionaire Marc Andreessen
Blackrock CEO Is Right: Trump and Kamala Can’t Stop Bitcoin
Stablecoin usage surged in Q3 as market cap hits $170b: Coinbase
Ripple CLO Breaks Down Next Steps In US SEC vs XRP Appeal
Trump Touts World Liberty Financial After Initial WLFI Token Sales Are a Dud
Art Under Surveillance: Ripcache’s Radical Take at Bitcoin Amsterdam
This hidden AI gem could put Solana’s 2021 gains to shame – 3000% rally ahead
Dogecoin Price At Risk As DOGE’s Adoption Continues To Decline
Analyst Breaks Down The Movements And Why It’s So
CORVA: Bitcoin Can Reduce Racism
182267361726451435
Top Crypto News Headlines of The Week
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin Open-Source Development Takes The Stage In Nashville
New U.S. president must bring clarity to crypto regulation, analyst says
Why Did Trump Change His Mind on Bitcoin?
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Citigroup Executive Steps Down To Explore Crypto
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Crypto Market Movers: 5 Altcoins Making Waves This Bull Run
Trending
- 1 month ago
182267361726451435
- 24/7 Cryptocurrency News2 months ago
Top Crypto News Headlines of The Week
- Bitcoin3 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Opinion3 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- News1 month ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Donald Trump3 months ago
Why Did Trump Change His Mind on Bitcoin?
- Altcoins2 months ago
Ethereum Crash A Buying Opportunity? This Whale Thinks So
- Bitcoin3 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
✓ Share: