Shiba Inu

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/shib-price-analysis-with-the-upcoming-shibarium-launch-shiba-inu-price-ready-for-a-breakout-rally/">SHIB Price Analysis: With The Upcoming Shibarium Launch, Shiba Inu Price Ready For A Breakout Rally!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a resurgence in buying pressure, the SHIB coin price maintains a bull run for the last two months. The extensive buying boosts the SHIB prices by 45% in the last 56 days, breaching the 200-day EMA.&nbsp; 
The recovering trend with the increase in demand for Shiba, the 50-day EMA revamps and teases a potential golden crossover in the daily chart.&nbsp; 
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The SHIB coin price shows an overnight gain of 7.50%, with a 40%% jump in intraday trading volume. The overnight jump continues undermining the previous 9.93% drop, the retest of the $0.00000908 breakout.&nbsp; 
The retest also helps the Shiba Inu coin price sustain above the 23.60% Fibonacci level, increasing the uptrend possibility.&nbsp;&nbsp; 
The MACD and RSI indicator in the daily chart indicates a surge in bullish sentiment. It is evident by the MACD and signal lines maintain an uptrend with the rising histograms. Moreover, the RSI line reaches the overbought boundary.&nbsp; 
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In the weekly chart, the previous SHIB candlestick failed to sustain above the $0.000010 psychological mark. However, with a sharp lower price rejection, reflecting a retest, the SHIB prices rise to challenge the 50 EMA.&nbsp; 
Supporting the bullish revival, the MACD indicator displays a bullish crossover in the weekly chart.&nbsp; 
If the meme coin closes above the 23.60% Fibonacci level on the weekly chart, the dog-themed cryptocurrency is expected to start a bull run to reach the 50% Fibonacci level at $0.00001179. 
On the other hand, too much selling pressure above the 23.60% Fibonacci level could lead to a new lower high formation. If this happens, the meme coin is expected to continue its downtrend and challenge the support level of $0.00000667.

SHIB Price Analysis: With The Upcoming Shibarium Launch, Shiba Inu Price Ready For A Breakout Rally!

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