Shiba

2024

Shiba Inu

<ul>
 <li>Shiba Inu (SHIB) has broken through an 11-week resistance level that had capped its price growth, marking a key momentum shift for the cryptocurrency.</li>
 <li>The SHIB/USD trading pair has shown a 10.52% increase from the previous week, indicating strong bullish sentiment in the market.</li>
 <li>Analysts project that a breakout in SHIB could lead to a 210% increase, pushing its value to $0.000081, just shy of its all-time high (ATH) of $0.00008845.</li>
</ul>
<p>The <a href="https://thenewscrypto.com/?s=Shiba+Inu" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB) cryptocurrency has recently demonstrated a change in its trading pattern, breaking through a persistent resistance level that had hindered its price growth for several weeks. This development signifies a crucial momentum shift for the digital asset, as it now aims for potentially higher targets.</p>
<h2 class="wp-block-heading" id="h-shib-breakout-at-0-00002638"><strong>SHIB Breakout at $0.00002638</strong></h2>
<p>Shiba Inu has finally surpassed an 11-week resistance level that had been firmly established in early March, following a prolonged period of stagnant price movements. Market researcher Jake Wujastyk highlighted data on X (formerly Twitter), showing that the SHIB/USD trading pair began to climb, reaching a peak of $0.00004500 the same month.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> <a href="https://twitter.com/hashtag/Shiba?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Shiba</a> Breaking out. <a href="https://t.co/uRzehTxESo" rel="noopener noreferrer nofollow">pic.twitter.com/uRzehTxESo</a></p>— Jake Wujastyk (@Jake__Wujastyk) <a href="https://twitter.com/Jake__Wujastyk/status/1793076054288204232?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 22, 2024</a>
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<p>After this peak, the cryptocurrency experienced a period of decline, with no significant upward movement until mid-May 2024. However, the recent breakout trend last week is particularly noteworthy, as the weekly chart indicates a 10.52% increase from the previous week, suggesting strong bullish sentiment in the market.</p>
<p>The recent upswing in Shiba Inu’s price comes after a period of sustained suppression by a resistance trendline. This trendline, formed by connecting the peak prices over several months, had effectively hindered any significant upward movement for the meme coin.</p>
<h2 class="wp-block-heading" id="h-shiba-inu-s-potential-ascent-to-0-000081"><strong>Shiba Inu’s Potential Ascent to $0.000081</strong></h2>
<p>Market analysts remain bullish on Shiba Inu’s prospects for additional price appreciation. Analyst Javon Marks forecasted that a successful breakout in SHIB could catalyze a 210% surge in its value.</p>
<p>Such a rally would propel SHIB’s price to $0.000081, positioning it just below its all-time high (ATH) of $0.00008845. Marks further posited that if SHIB can overcome this level, it has the potential to soar to $0.0001553, signifying a remarkable 500% increase from its present price point.</p>
<p>As of the time of writing, Shiba Inu is exchanging hands at $0.00002595, representing a 2.17% uptick from the previous day. Notably, this price action is bolstered by a sizable 34.37% surge in trading volume, which has reached $1,217,382,364.</p>

Shiba Inu (SHIB) Smashes 11-Week Resistance, Sets Sights on $0.000081

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