Shiba

2024

Bitcoin

Shiba Inu

<ul>
 <li>Shiba Inu (SHIB) bounced back from $0.00002367 to $0.00003262, showing a 37.8% increase in a week, driven by Bitcoin’s rebound.</li>
 <li>SHIB formed an ascending channel pattern, indicating potential for sustained uptrend towards $0.000032 and possibly $0.000035 and higher.</li>
 <li>SHIB’s Commodity Channel Index (CCI) at 53.10 on the daily timeframe suggests room for growth. Resistance lies at $0.00003487, with further targets beyond.</li>
</ul>
<p><a href="https://thenewscrypto.com/?s=Shiba+Inu" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB), the popular meme-inspired cryptocurrency, has shown remarkable resilience and potential for a more substantial rally after recovering from its recent bottom at $0.000023.&nbsp;&nbsp;</p>
<p>SHIB dropped to $0.00002367 on March 20 amid the broader market’s collapse, coinciding with Bitcoin (BTC), the premier cryptocurrency, slumping to $60,775.</p>
<p>However, as Bitcoin recovers from this low, SHIB has leveraged the ongoing push to reclaim previous highs, skyrocketing from the March 20 low to a high of $0.00003262 today, marking a 37.8% increase over a one-week period.</p>
<h2 class="wp-block-heading" id="h-shiba-inu-trades-in-ascending-channel-hinting-at-sustained-uptrend">Shiba Inu Trades in Ascending Channel, Hinting at Sustained Uptrend</h2>
<p>In the context of ongoing market recovery efforts, there is anticipation among market participants regarding potential growth in Shiba Inu. According to analysis provided by <a href="https://twitter.com/LitFXMogul/status/1773013247798427816" target="_blank" rel="noopener noreferrer nofollow">LitFXMogul</a>, a crypto market analyst, the recent low of $0.00002367 on March 20 is viewed as the bottom for Shiba Inu, suggesting a favorable outlook for upward movement from this point onwards.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ShibaInu</a> sees a resurgence after bottoming out at $0.00002388 – rallying back to $0.00003<br><br>Technical indicators suggest potential for further gains!<a href="https://twitter.com/hashtag/shib?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#shib</a> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> <a href="https://twitter.com/hashtag/DYOR?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DYOR</a> <a href="https://twitter.com/hashtag/NFA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#NFA</a> <a href="https://t.co/LopKcozq1a" rel="noopener noreferrer nofollow">pic.twitter.com/LopKcozq1a</a></p>— LitFXMogul <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1ea-1f1f8.png" alt="🇪🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@LitFXMogul) <a href="https://twitter.com/LitFXMogul/status/1773013247798427816?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 27, 2024</a>
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<p>Analysis of data from an accompanying chart indicates that Shiba Inu has been following an ascending channel pattern on the 4-hour timeframe since reaching the aforementioned low, marked by a series of higher highs and higher lows. This pattern typically signifies a sustained uptrend. Despite encountering resistance at the upper trendline, Shiba Inu has demonstrated resilience, mitigating the risk of dropping below the lower trendline.</p>
<p>If Shiba Inu continues to adhere to the ascending channel pattern, there is a possibility that the token could aim to reclaim the $0.000032 level, with potential further movement towards the $0.000035 range before potentially reaching the coveted $0.00004 zone. Over the longer term, reaching $0.00004 could be feasible if Shiba Inu maintains its current trajectory.</p>
<p>Additionally, analysis of SHIB’s commodity channel index (CCI) on the daily timeframe suggests that the crypto token has room for expansion. Despite currently trading at $0.00003241, Shiba Inu’s CCI stands at 53.10, indicating that the token is not yet in the overbought zone, implying potential for further growth.</p>
<p>LitFXMogul has highlighted several resistance levels that SHIB would need to overcome during its upward trend. The initial resistance level is situated at the $0.00003487 price point, and breaching this level could potentially propel SHIB towards $0.000038.</p>

Shiba Inu Poised for Substantial Rally: Can SHIB Go Higher?

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