Shiba Inu (SHIB), the popular cryptocurrency, shows impressive bullish prospects with a forming double-bottom pattern and rising open interest.
Shiba Inu Technical Analysis
Expert technical analysis indicates that SHIB's chart is forming a bullish double-bottom pattern. Additionally, its technical indicators show bullish divergences, signaling potential upward momentum. There is also the formation of a 'bullish engulfing' candlestick pattern, further reinforcing its bullish potential.
SHIB Price Prediction
If SHIB closes a daily candle above the $0.00001565 level, there is a strong possibility of a 30% surge to the $0.000020 level.
Current Price Momentum and Mixed Metrics
The current price of SHIB is around $0.00001565 with a rise of over 5.10% in the past 24 hours. However, trading volume has decreased by 32%. Amid bullish price action, mixed metrics indicate that traders are optimistic, while long-term holders are actively selling.
The analysis of data and metrics suggests that bulls are currently dominating the market, potentially leading to further SHIB price growth.
