$SHIB : Bullish Signals Amid Price Fluctuations - AMBCrypto Analytics
Shiba Inu (SHIB) remains the second-largest memecoin, with a market cap over $7.8 billion. Recently, SHIB was down 3.13%, but current price action suggests potential opportunities ahead.
Trading at levels that previously led to a 300% surge earlier this year, SHIB’s correction patterns hint at an impending breakout. Following a market crash on August 5 to a low of $0.00001081, SHIB has been consolidating within a symmetrical triangle.
Traders expect support at the triangle’s base; a break below could signal a shift in sentiment. Liquidation data shows bullish sentiment, with net long positions at 38% compared to 32% for shorts.
Whales holding over $10 million in SHIB have increased their holdings by 3.39% in the last 30 days, indicating accumulation. Overall trends suggest SHIB may be gearing up for higher price movements.
