Shiba Inu (SHIB) is currently trading at approximately $0.00001443, showing a slight increase of 0.77% over the past 24 hours. Recent technical analyses suggest the potential for SHIB to reach price targets of $0.00002 and $0.00003 in the near future.
A key indicator supporting this outlook is the SHIB/DOGE ratio, which has recently formed a local bottom. Historically, such patterns have preceded significant upward movements in SHIB's price. Additionally, whale accumulation—large investors buying and holding SHIB—has been observed, reducing the available supply on exchanges and potentially decreasing selling pressure.
Technical indicators further bolster this bullish sentiment. The Moving Average Convergence Divergence (MACD) shows a positive divergence, and the Chaikin Money Flow (CMF) is at 0.14, indicating substantial capital inflow. Immediate resistance levels are identified at $0.00003 and $0.000035, with support levels at $0.000025 and $0.00002.
While these analyses point toward a potential upward trajectory for SHIB, it's essential to conduct your own research and consider market volatility before making investment decisions.
