#SHIB
Trade now. . bullish sentiments๐๐๐๐๐โคโโคโคโค๐ค
๐๐๐๐ก๐๐จ ๐ฝ๐ช๐ฎ 700๐ฝ ๐๐๐๐๐ ๐๐ฃ๐ช ๐ผ๐จ ๐๐๐๐๐๐ง๐๐ช๐ข ๐๐๐ ๐๐๐๐ก๐๐๐ข๐จ $2๐; ๐๐จ $0.000030 ๐๐๐ญ๐ฉ?
Shiba Inu price is on a rally today, July 10, having gained by 7.55% in the last 24 hours to trade at $0.0000134 at the time of writing. Following this upsurge, SHIB price reached the highest level in one month at the same time that a bullish pattern, whale buying, and rising network activity suggested that a move towards $0.000030 might occur.
For several weeks now, SHIB has been forming a double-bottom pattern that has been hinting towards a major breakout rally. This pattern emerged as the Shiba Inu price created a strong support level at $0.000010. In the last 18 months, this level has also doubled up as a demand zone as buyers find it to be a favorable entry point that precedes a massive rally to the upside.
Whenever a double bottom pattern forms, the first target is the neckline resistance that the price tested before the rally was rejected. In the case of SHIB, this resistance lies at $0.0000176, where the meme token faced rejection in mid-May, following a brief rally.
If the ongoing crypto market rally holds as altcoins continue to track Bitcoin, Shiba Inu price could get to $0.0000176, in which case it will have risen by 71% from the double-bottom support.
Making a strong close above this neckline resistance level will create room for the SHIB price to rally to the target of the double bottom pattern that sits at $0.000030.
Besides the broader market gains seen with top meme coins today, two factors also suggest that the SHIB price might be on the verge of a 70% rally. These include an increase in whale buying activity and network growth.
Per IntoTheBlock data, large holder netflows have risen from -233 billion to 532 billion within two days, indicating that whale wallets have increased their allocation towards this meme coin by more than 700 billion coins.
