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Shiba Inu Price Prediction: 18% Jump as a Bullish Pattern Emerges

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Shiba Inu Price Prediction: 18% Jump as a Bullish Pattern Emerges
Shiba Inu Price Prediction: 18% Jump as a Bullish Pattern Emerges

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A significant rally is taking place in the price of SHIB after possibly reversing from the $0.000007 monthly support to the $0.000002 support level.

As SHIB has entered its ongoing correction phase, it has begun to gain significant buying interest around the $0.000007 threshold, where it has reached the threshold of significant buying interest. According to the daily chart, the price has shifted from the previous descending trajectory to a lateral movement, which signals the end of the bearish trend, and, therefore, the end of the bear market. As soon as the cryptocurrency market recovers, the meme coin traders might use this newfound base at $0.000007 to re-energize their ascent in the near future.

Is SHIB Price able to reclaim its $0.000008 mark?

A significant increase in buying pressure began to show up on SHIB near the $0.0000007 mark, which was a major turning point in the price of the SHIB.

Double bottoms indicate that we are amid an upturn due to the formation of this pattern.

Shiba Inu coin had an intraday gain of 10% with $83 Million in trading volume, which was a significant gain from the previous day.

Source: Tradingview

At $0.000007, the Shiba Inu price demonstrated a bullish morning star candle configuration with an intraday gain of 1.66%. Double Bottoms, a bullish technical pattern based on price reversals at support within a month, were formed following the second reversal within a month.

Based on the appearance of this pattern, it is thought that buyers have gathered at these lower levels, indicating the onset of a bullish phase. The momentum of this technical formation suggests that the coin’s trajectory will intersect and possibly breach 0.0000076, the immediate resistance.

For buyers, it would be beneficial if the price rose over this pivotal resistance, validated by the close of the daily candle above it, in order to create a solid base from which to push the price even higher in the future. Upon its breakthrough, the coin’s value is expected to increase by 15.5%, eventually reaching $0.0000087, which is the expected value after a 15% boost.

Performance of SHiB and DOGE

Based on the trailing three-month price performance of SHIB, it can be seen that a continuous bearish trend has been evident since the middle of August on the price trend of SHIB. Undoubtedly, the seller dominates this asset over the long term, as it has lower lows and highs.

Despite the bearish climate, Dogecoin seems to navigate a sideways course, indicating its inherent resilience.

Obtaining additional support from Bollinger Bands: The upper boundary of the Bollinger Bands has increased, suggesting additional support for buyers

When the relative strength index (RSI) slopes above 40% on a daily basis, bullish momentum increases.

Bitcoin BSC Presale reaches $3 million, with $1 million left to go

Several significant milestones have been reached by Bitcoin BSC (BTCBSC), a new BEP-20 token that launched its presale less than ten days ago, and has exceeded the target by several times. Most recently, the project reached a milestone in terms of the amount raised by raising $3 million.

If the soft cap set of $3.96 million is reached, the presale will end, and if things continue at this rate, it might happen within only a day or two of the presale ending. There is simply no time like the present to join the presale and buy Bitcoin – just like when the price of Bitcoin was only $1 in 2011 – so it is imperative that you act quickly if you want to acquire Bitcoin.

Users will be able to repurchase young Bitcoin through the token to enable them to repurchase young Bitcoin. This coin will be able to offer staking services, which will release rewards every 10 minutes as a reward for staked coins, which is similar to how Bitcoin mining rewards work on the coin’s original network once it enters circulation.

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