$SHIB
🚨 Shiba Inu Price Prepares For a Triple-digit Rally to $0.00003175 🚨
SHIB is trading at $0.00001428 and is trending within a consolidation phase after breaking out of the multi-week downtrend. This range extends from $0.xxxx to $0.xxxxx and could be hinting at a potential bottom.
In such a case, the next phase of the uptrend involves a rally to $0.00001527, where Shiba Inu’s price will most likely slip into consolidation. This development is reminiscent of an uptrend, where the asset’s price enters a brief accumulation phase after an explosive move to the upside.
A decisive daily candlestick close above $0.00001527 could trigger a bullish breakout — and based on previous price cycles, a 108% rally to $0.00003175 is not off the table.
While the bulls paint a compelling market structure, there are various red flags that could signal a potential downside. The lack of volume and failure to clear the $0.00001527 resistance zone decisively may suggest a bull trap, where early buyers get trapped above current prices, thereby increasing the risk of selling.
In such a case, a breakdown of the $0.00001082 support level will invalidate the bullish thesis and potentially catalyze a crash to $0.00001000 or lower.