Shiba Inu Eyes 39% Breakout: Will This Bullish Triangle Spark a SHIB Rally?
Table of Contents
Bullish Triangle Could Lead to Explosive Move
Technical Indicators Support a Bullish Outlook
Broader Memecoin Market Still Weak, But Recovery Could Aid SHIB
What’s Next for SHIB?
Despite facing an 11.88% decline over the past week, Shiba Inu (SHIB) could be gearing up for a bullish breakout, according to technical indicators and market confluences. While the memecoin market remains weak overall, SHIB’s price action is signaling a potential reversal.
Currently, SHIB is trading near the support line of a bullish triangle pattern, a setup that typically precedes upward movement after a consolidation phase. If Shiba Inu successfully breaks through the triangle’s resistance with a confirmed candle close, analysts predict a possible 39% price surge, potentially pushing SHIB to $0.00001765
