Shiba

Rally

Million

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Shiba Inu

<img width="1200" height="551" src="https://coingape.com/wp-content/uploads/2023/12/VI67pMkF-e1703355885910.png" class="attachment-full size-full wp-post-image" alt="SHIB Price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Shiba Inu Price Prediction: The second-largest meme coin Shiba inu displays a bullish week and continues to <a href="https://coingape.com/shiba-inu-team-burns-another-8-5-bln-shib-will-it-trigger-further-price-rally/">prolong its recovery phase</a>. From the annual low of $0.00000543 the coin price rallied to presently trade $0.000011, giving a YTD growth of 36%. Moreover, the ongoing recovery phase presents a new breakout entry.&nbsp; 
Also Read: <a href="https://coingape.com/shiba-inu-news-whale-moves-4-tln-shib-shytoshi-kusama-spotlights-leash-listing/">Shiba Inu News: Whale Moves 4 Tln SHIB, Shytoshi Kusama Spotlights LEASH Listing</a> 
<h2 id="b-is-shib-heading-to-0-000015-b">Is SHIB Heading to $0.000015?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">An ascending trendline prevents the SHIB price from major correction.</li> 
 <li style="font-weight: 400;" aria-level="1">A bullish breakout from the wedge pattern would signal a better confirmation of a bull run</li> 
 <li style="font-weight: 400;" aria-level="1">&nbsp;Shiba Inu is at $214 Million with a 39% loss.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/v/VI67pMkF.png" alt="Shiba Inu Price Prediction " width="1946" height="893">
 <figcaption class="wp-caption-text">
 Shiba Inu Price Prediction| TradingView Chart
 </figcaption>
</figure> 
 Maintaining an overall uptrend, the <a href="https://coingape.com/price/shiba-inu/">Shiba Inu price</a> approaches the overhead resistance of the wedge pattern. The ongoing uptrend creates an ascending trend line which reflects the ongoing short-term recovery phase. 
The sharp rise in the trading volume supports the possibility of a bullish breakout. As of now, the SHIB price trades at $0.0000011 and is trying to sustain the trend momentum. 
<blockquote>
 As 2024 approaches, the cryptocurrency market is optimistic about the potential approval of a Bitcoin spot ETF, positively influencing various cryptocurrencies, including Shiba Inu (SHIB). Amidst this bullish sentiment, SHIB’s price has seen a rise for four consecutive days, reflecting increased investor confidence.
</blockquote> 
Nevertheless, the overall bullish trend is intact, and a possible bounce back from the ascending support trendline by 15.56% to challenge above the overhead trendline.&nbsp; 
The post-breakout rally could lead a 6-8% Jump, with the intent of challenging the resistance at $0.00001187. 
<h2 id="b-is-shib-ready-for-uptrend-b">Is SHIB Ready For Uptrend?</h2> 
<img decoding="async" src="https://s3.tradingview.com/snapshots/8/8C2XRb0a.png" alt="TradingView Chart"> 
While the short-term trend displays a bullish journey for the meme coin, the longer picture displays a falling wedge in action. Currently, the bullish week for meme coin accounts for a 15.3% recovery and bolsters the breakout theory. However, the multi-contact resistance trendline will prove a formidable obstacle. An upside breakout from the overhead resistance will be a better signal for trend change, potentially chasing the $0.0000157 mark followed by $0.000018. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a> slope above 60% reflects the bullish sentiment is intact.</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The coin price trading below 100-and-200-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> indicates the long-term trend is bearish.</li> 
</ul> 
The post <a href="https://coingape.com/markets/shiba-inu-price-prediction-as-shib-edge-close-to-35-rally/">Shiba Inu Price Prediction As $SHIB Edge Close to a 35% Breakout Rally</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Shiba Inu Price Prediction As $SHIB Edge Close to a 35% Breakout Rally

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