Shiba Inu (SHIB), the beloved meme coin, may be gearing up for a comeback! š„ A classic double bottom pattern on the charts is hinting at a potential bullish reversal that traders and investors wonāt want to ignore. Letās dive into the latest developments š
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š Technical Analysis: Whatās the Chart Telling Us?
The SHIB price has been hovering near a critical support level around $0.00001260, forming two distinct dips ā the classic āWā shape known as the double bottom. This pattern often signals that the selling pressure is weakening and that a trend reversal could be on the horizon. š
š Key Indicators:
š Hourly & Daily Timeframes show consolidation with rising volume.
š SHIB is testing resistance at $0.00001285 ā $0.00001291 (20āhr and 50āhr SMAs).
š A breakout above $0.00001330 could pave the way toward $0.00001400 and beyond.
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š® Bullish Case: Ready for Takeoff?
If buyers step in and push the price above the neckline of this pattern, SHIB could:
š Reclaim $0.00001300+
šÆ Target the $0.00001391 (50āday SMA)
š Possibly run toward the midā$0.00002s in a broader rally
This scenario becomes even more likely if volume increases and market sentiment improves ā both key ingredients for a strong breakout. šš
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ā ļø Bearish Scenario: What If Support Breaks?
Not all setups play out perfectly. If SHIB breaks below $0.00001260, we might see:
ā¬ļø A drop toward $0.00001150
š Bearish sentiment return
š A delay in any near-term bullish momentum
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š§ Final Thoughts: Is SHIB a Buy Right Now?
The current pattern suggests a high-potential setup ā but timing and confirmation are everything. š
š” Traders should:
ā
Watch for a break above $0.00001300
š”ļø Use tight stop-losses under $0.00001260
š Be prepared in case of a downside fake-out
If the double bottom holds, SHIB might just be warming up for its next moon mission ššø
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š Are you holding SHIB or planning to jump in? Let us know in the comments! š¬
#Crypto #ShibaInu #SHIB #TechnicalAnalysis
#MemeCoin #Bullish
#DoubleBottom #CryptoTrading ššš
$SHIB