Shiba, the “doge-killer” crypto is currently have a breakout on the charts, and this could mean the start of long-awaited bull run in this crypto.
In this article, we will look at the Shiba price prediction, weekly analysis along with the news roundup.
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Shiba Inu Price Prediction
SHIB is trading at $0.000032, marking a 5.38% increase over the past 24 hours. The token has shown a bullish trend, with a strong breakout looking in the charts.
The price has broken out of the descending channel, indicating a strong bullish rally upward. Currently, it has also broken above the horizontal resistance zone and retested it successfully. This presents a buying opportunity for SHIB.
Weekly Price Analysis
Over the past week, SHIB has seen a 8.9% increase, indicating a strong bullish sentiment in the market.
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The market sentiment towards SHIB is bullish, with technical analysis indicators signaling a potential price increase.
The technical indicators also show a bullish trend in this crypto.
News Roundup
Recent news has been favorable for SHIB:
- A surge in SHIB’s burn rate has caught the attention of investors, hinting at a potential price increase due to reduced supply.
- Top cryptocurrency analysts have included SHIB in their portfolios, anticipating a bull run in 2024.
- SHIB has been compared with Retik Finance (RETIK), discussing which crypto is better for beginner investors in 2024.
Conclusion
SHIB continues to be a significant player in the meme coin sector, with a supportive community and positive market sentiment. While predictions vary, the overall outlook for SHIB remains optimistic. Investors are advised to conduct their own research and stay updated on the latest SHIB news before making investment decisions.
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.
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