Shocking Shiba Inu Coin Update: Rare Pattern Predicts 50% Jump – Don’t Miss Out!

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Shiba Inu price drops 33% from December highs but signals of a potential rebound emerge

Shiba Inu (SHIB), the second-largest meme cryptocurrency, reached a peak of $0.00002215, representing an increase of 12% compared to its lowest point this week. However, it has trailed behind other well-known meme coins such as Fartcoin, ai16z, and Dogwifhat.

It’s plausible that Shiba Inu (SHIB) isn’t performing as expected due to issues with its layer-2 network, Shibarium. Although transactions are approaching the 800 million mark, the total transaction fees have been consistently decreasing. On Tuesday alone, the network only gathered around 640 BONE in fees, which is equivalent to less than $300.

As a proud Shiba Inu investor, I’ve noticed that Shibarium’s performance seems to be influencing my portfolio. You see, a portion of the transaction fees within Shibarium gets used to burn SHIB tokens, which reduces the overall supply and potentially increases the token’s value. However, as per Shibburn, the burn rate has been under strain in recent weeks, suggesting that the pressure on burning tokens might be high.

Essentially, the value of the coin could significantly increase as cryptocurrencies surge, given that Bitcoin (BTC) is approaching a significant resistance level at $100,000 following optimistic consumer inflation figures. Furthermore, it might perform well in anticipation of Donald Trump’s inauguration and the beginning of Paul Atkins’ tenure at the Securities and Exchange Commission.

Shiba Inu coin price analysis

Today’s graph indicates that the Shiba Inu coin (SHIB) created either a hammer or morning star candlestick configuration, as cryptocurrency prices plummeted on Monday. This pattern, characterized by a lengthy lower wick and a tiny body, is generally interpreted as a sign of reversal.

The diagram for Shiba Inu shows a falling wedge, which is a chart pattern created by two downward-sloping lines that gradually get closer together. Typically, this pattern is seen as a bullish sign, as price movements tend to increase when the lines meet and the trendline is broken.

As an analyst, I’ve noticed a potential bullish outlook for SHIB. Despite the general market trend, the Relative Strength Index (RSI) has been forming an ascending channel, indicating a possible shift in momentum towards the bulls. If this continues, SHIB could potentially rebound and reach last year’s high of $0.000033 – that’s roughly 50% above its current level. However, a dip below the significant support at $0.00001853, which is its lowest point from December, might contradict this optimistic forecast.

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2025-01-16 17:56