#Shiba Inu Price Rally to $0.000025 Still Likely Despite Drop
The nature of top meme coins, such as SHIB, is unpredictability. While a coin might be deep in the red today, it might post double-digit price gains the next day. However, right now, a cup and handle pattern shows that Shiba Inu has more to give bullish traders.
When the price started to rise from a low of $0.0000104 in late June and reached $0.000015 on Monday last week, it created a cup pattern. Later on, it started to create a handle seen in a falling channel. Still, bears were not strong enough to push the price below support.
Currently, Shiba Inu price is trying to get to the resistance. It has moved above the middle line, but if there is some action from those buying the dip, $0.000016 might be the next spot.
Usually, when the price moves past the point at which it was previously rejected, it means there is a better chance for gains. In the case of SHIB price, moving past $0.000016 might be what gives way for a 58% rally to $0.0000253.
