SHIB has shown surprising strength during the latest market dip, posting smaller losses than many other tokens – and a new buy signal on the hourly chart now supports a bullish Shiba Inu price prediction.
Over the past 30 days, SHIB is down just 11.6%, compared to much steeper drops of 41% for Bonk (BONK) and 29% for Pudgy Penguins (PENGU) in the same timeframe.
In the last 24 hours, trading volume has jumped 118% to $361 million, representing 5% of SHIB’s circulating supply – a sign of renewed activity and interest.
Shiba Inu Price Prediction: Explosive Move Expected and 152% Upside Potential Ahead
Looking at the daily chart, this move to a key support has been confirmed as SHIB is approaching the $0.000012 level.
This level has acted as a cushion twice already and seems quite relevant as it has acted as both support and resistance in the past.
We could expect a bullish breakout of the descending triangle shown in the chart first, followed by a trend line break above $0.00001500 that could trigger a stronger move toward $0.000030.
The Relative Strength Index (RSI) shows an ongoing consolidation. This range-bound trading often precedes a strong move once the market has made a decision on which direction the price will move next.
This bullish move for SHIB implies a 152% upside in the near term.
Maybe it won’t 10x this week, but the latest price action clearly supports a bullish Shiba Inu price prediction.
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