Shiba Inu has made history with its remarkable impact on finance. Its ascent has revolutionized the financial system and captured the attention of traders worldwide. As the coin continues to climb, it’s expected to show a surge in the coming days. However, understanding its performance requires a keen technical eye and an understanding of the charts before investing hard-earned money.
In this article, we’ll explore how Shiba Inu is anticipated to perform in the coming years, providing you with technical analysis and everything you need to know about the coin.
Key Stats:
– Real-time price of SHIB to USD: $0.00002479
– Market Sentiments: Mixed
– 24-hour Volume: $214,950,593
As of May 16, 2024, the Shiba Inu price is trading at $0.00002479, with a market cap of $14,609,214,693.
Technical Analysis:
– **Chart Pattern:** Rounding Bottom (Bullish Reversal)
– **Time Frame:** Weekly
The technical chart on the weekly time frame indicates that the SHIB price is developing a bullish reversal pattern known as the rounding bottom.
This chart setup is typically interpreted as the bottoming of a downtrend as investors show renewed buying interest.
Under the influence of this pattern, buyers are expected to challenge the all-time high resistance of $0, providing better confirmation of a bull market.
