Momentum

Resistance

Epic

Shiba Inu’s epic resurgence has sparked speculation around how high the meme coin could run with its all-time high in sight once again. 
SHIB gained over 45% in the past week, propelling back above the critical $0.00001 level. The excitement stems from the anticipated launch of Shibarium, which promises to ignite a new SHIB price surge. 
If <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="SHIB" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">SHIB</a> manages to retest its former peak above $0.00008, investors who buy at current prices around $0.00001 could see massive gains. 
For example, a $1,000 investment in SHIB at the current price would be worth around $7,550 if it returned to its all-time high – implying potential profits of over $6,500. 
SHIB has already posted parabolic rallies in the past, so a 10x or greater return is not out of the question. However, investors should remember the inherent risks in crypto’s volatility. 
But with Shibarium on the horizon and retail hype resurging, traders are wondering if this is the start of SHIB’s next epic run. While challenges remain, the <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coin’s resiliency has speculators betting on history repeating itself. 
A reclaim of its former peak would represent a rally of over 800% from current levels. For daring investors, even a small SHIB position could result in five-figure gains if key resistance levels fall. 
<h1 class="wp-block-heading" id="trade-setup-and-technical-analysis">Trade Setup and Technical Analysis</h1> 
According to <a href="https://captainaltcoin.com/go/altfins/" rel="noopener noreferrer nofollow">altFins</a>, Shiba Inu’s bullish breakout from an ascending triangle pattern and move above $0.000008 resistance signals a potential trend reversal to the upside. SHIB hit our initial target of $0.000010, aligning with the 200-day moving average, where it faced rejection after retesting this level. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-1024x573.png" alt="" class="wp-image-311847" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-385-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
If SHIB can break convincingly above the $0.000010 barrier, it would confirm the new uptrend and open the door for a move towards $0.000012 next. Traders may look to set price alerts around the $0.000010 resistance. 
This price action forms an ascending triangle continuation pattern, which typically resolves in the direction of the prevailing trend. Aggressive swing traders could look to trade between support and resistance levels, buying near the lower trendline around $0.000008 and taking profits near the upper trendline resistance. 
The short- and medium-term trend is up, but the long-term remains in a downtrend for now. Momentum indicators are bullish, with the MACD line crossing above the signal line and RSI holding above 55. 
Key support to watch is at $0.0000080, prior resistance, and then at $0.0000055 on further dips. Resistance is at $0.000010, with $0.000012 as the next target if SHIB can break out of the triangle pattern to the upside. 
The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/shib-investors-bet-on-epic-2021-repeat-1k-investment-now-could-net-big-roi-if-ath-reclaimed/">SHIB Investors Bet on Epic 2021 Repeat: $1k Investment Now Could Net Big ROI If ATH Reclaimed</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

SHIB Investors Bet on Epic 2021 Repeat: $1k Investment Now Could Net Big ROI If ATH Reclaimed

Table of Contents

CaptainAltcoin

Other articles published on Aug 12, 2023

Binance Explores Entry into Taiwan’s Cryptocurrency Market Amidst Regulatory Shifts

Hottest Crypto to Watch This Week Revealed

Argentina Agency Investigates Worldcoin Over Privacy Issues

GAL Shifts 10.2M Tokens: Strategic Reallocation to Treasury Unfolds

Trading Volume in the Cryptocurrency Market on a Decline: Report

Russia Launches Digital Ruble Trials in 11 Cities

Join our free newsletter for daily crypto updates!