Old Giant Awakens: Shiba Inu Up 35% as Whales Move SHIB

The Biggest AI #MEME Token has launched! Turn $100 USD into $3,000 USD, 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30. Confirmed 30X Profit from AIG MEME Token. Join the Airdrop and Pre-sale at the Official Website ➯ PlayAiGames.online

Shiba Inu (SHIB) recently sliced through its most challenging resistance, signaling an awakening of the “Old Giant” leading to price surge of more than 31% in the last 24 hours as at press time.

Traditionally labeled as just another memecoin, SHIB has evidently constructed a substantial foundation around itself, possibly exceeding the simplicity expected of its genre possibly because of the Shibarium ecosystem.

This raised questions about its evolving complexity and whether it still aligns with the quick, straightforward appeal typical of memecoins.

Following the increase, SHIB broke its downward trend. The memecoin was under bullish control as confirmed by the RSI which was in the overbought territory, and the strong upward momentum supported by growing trading volumes.

The breach of resistance could potentially transform it into a new support zone.

Considering Fibonacci extensions, especially the critical 1.618 level from its all-time high, suggested that SHIB could see an exponential rise, possibly by over 600%.

However, the immediate future depends on whether SHIB can maintain its position above this newly established support. If it holds, we could witness further ascents, confirming the bullish outlook for SHIB in the near term.

What the 50% Fibonacci Retracement Level Means…

Additionally, Shiba Inu’s price broke above the 50% Fibonacci retracement level at $0.00002345, indicating potential for broader altcoin movements. Breaking of the level by SHIB is a signal for the anticipated “alt season”.

Analysis of SHIB’s price showed that it previously struggled to maintain above the 50% Fib level, making it a key resistance zone.

#ShibaInu #Dogecoin #Altcoins #CryptoNews $SHIB $DOGE $BTC