Shiba Inu (SHIB) Price Set to Explode: Bullish Triangle Pattern
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According to a report by Bijie Network: Shiba Inu (SHIB) is currently consolidating within a symmetrical triangle pattern, suggesting a potential directional breakout after several months of sideways movement. This pattern has formed following a prolonged downtrend, indicating that selling pressure has weakened and, with higher lows being established, market momentum is subtly shifting. If the price decisively breaks above the upper boundary of the triangle near the 50-day moving average, it could trigger an 8-12% rally, with the target near the resistance of the 100-day moving average. Conversely, if the price falls below the triangle, it may retest recent lows. The chart shows that the price is in a contraction phase, and the anticipated breakout is expected to drive significant short-term price volatility.
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