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Shiba Inu: Accumulation Phase May Lead to Breakout

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by Giorgi Kostiuk

a year ago

Shiba Inu, a popular cryptocurrency, is in an accumulation phase, which could signal a future price surge.

Projected Price Breakout

Prominent analyst SHIB Knight predicts that Shiba Inu could break out of its accumulation phase, increasing by 42.6% to $0.000037. Sustained interest and investor expectations may lead to a significant uptick in token value moving forward.

High-level consolidation often precedes a substantial price breakout.SHIB Knight

Technical Indicators

Shiba Inu recently broke above the symmetrical triangle pattern, suggesting a potential price increase. The relative strength index (RSI) stands at 61.61, and the MACD indicates a possible bullish crossover, supporting an optimistic outlook.

Current State of Shiba Inu

Currently trading at $0.00002688, Shiba Inu has a market capitalization of approximately $15.43 billion, maintaining its position as the second largest meme coin by market cap.

Shiba Inu's accumulation period could be the catalyst for future growth. Investors are closely watching for a breakout that could significantly increase the cryptocurrency's value.

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Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.