SHIB has just broken through a descending trendline after confirming a double-bottom pattern near the $0.00001063 resistance zone. Following this bullish signal, the price surged above $0.00001428 and is currently trading around $0.00001507.
The next key level lies at $0.00001580. If SHIB breaks through it, bulls could retest the $0.00001759 area. The current setup favors bullish continuation — as long as trading volume remains strong.
SHIB/USDT: 1-Day Chart (Source: TradingView)
Indicators Point to Momentum
DMI indicators show +DI at 37.57 and -DI at a low 11.60, signaling dominant bullish pressure. The Average Directional Index (ADX) sits at 27.98, confirming a solid trend strength.
This setup suggests SHIB is under strong bullish control, and historical patterns show such DMI conditions often lead to extended trend phases.
💰 A Good Entry Point?
The sharp rise in SHIB's token burn, increasing open interest, and technical breakout all point to a bullish short-term outlook. With both on-chain and momentum indicators flashing green, SHIB is well-positioned for further growth.
As always, do your own research before investing — but right now, Shiba Inu appears to be heating up once again.
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