Shiba Inu Set for Almost 500% Surge: Bulls Eye $0.00004 Breakout

December 2, 2023 at 02:42 AM GST 2 mins read News

Shiba Inu’s potential 493% rally hinges on a confident weekly close above the Bollinger Bands’ middle indicator.
Past instances of confident weekly closes have preceded significant SHIB rallies.
A move akin to January’s confident close could propel SHIB towards a 493% surge from its current position to reach $0.0000410.

Shiba Inu (SHIB) enthusiasts have their sights set on a remarkable upswing, anticipating a surge of 493% as the cryptocurrency maneuvers towards a significant milestone. Recent market movements, as indicated by the Bollinger Bands, hint at a promising trajectory for SHIB.

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Over the past weeks, SHIB experienced a period of consolidation following a streak of bullish momentum that led to a climb to $0.00000965. However, subsequent weeks saw a minor dip, with SHIB retreating by over 12% amidst a relatively subdued market landscape. Despite this, SHIB’s current position suggests a potential for bullish momentum, showcasing resilience amid selling pressure.

Key to this optimism is the Bollinger Bands indicator, a metric widely observed by traders to gauge market trends and potential price movements. SHIB’s positioning relative to the middle band of these bands signals a pivotal moment. A confident weekly close above this critical level may herald an imminent and substantial rally, potentially catapulting SHIB toward the $0.00004 territory.

Historical data reveals intriguing patterns, such as when SHIB secured confident closes above the middle band, resulting in impressive surges. Notably, similar bullish moves occurred in the past, each followed by significant rallies. For instance, a confident close in early 2021 preceded a staggering 939% surge, while a subsequent occurrence earlier this year led to a 47% increase.

Now, the community eagerly awaits a repetition of this trend. With SHIB currently trading at $0.00000833, a projected 493% surge could see the cryptocurrency reaching the $0.00004 mark, a territory unexplored since November 2021.