💪 Shiba Inu could rally 20%, but only on THIS condition C

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💪 Shiba Inu could rally 20%, but only on THIS condition Crypto analyst Ali Martinez suggests that Shiba Inu (SHIB) could rally by 20%, based on technical analysis. Martinez shared a 4-hour SHIB/USD chart showing a descending channel, where the token is approaching breakout levels. This pattern features resistance (upper trendline) and support (lower trendline). 📈 Breakout Signs and Potential Targets SHIB is currently trading at $0.0000236, indicating a 7.42% increase in the last 24 hours. This uptick suggests the beginning of a breakout, with a potential target of $0.00002954 within a few days, according to AMBCrypto's analysis. The Market Value to Realized Value (MVRV) ratio also indicates that SHIB might be undervalued, with a 30-day MVRV ratio of -1.239%. 💼 HODL Sentiment and Exchange Supply Dynamics The supply of SHIB on exchanges has decreased, currently at 74.7 trillion, while the supply outside exchanges has increased to 927.17 trillion. This shift suggests that many SHIB holders believe in its long-term potential, reducing short-term selling pressure. This sentiment, coupled with technical indicators, supports the prediction of a price increase to $0.00002954, contingent upon market sentiment remaining positive.

💪 Shiba Inu  could rally 20%, but only on THIS condition
Crypto analyst Ali Martinez suggests that Shiba Inu (SHIB) could rally by 20%, based on technical analysis. Martinez shared a 4-hour SHIB/USD chart showing a descending channel, where the token is approaching breakout levels. This pattern features resistance (upper trendline) and support (lower trendline).
📈 Breakout Signs and Potential Targets
SHIB is currently trading at $0.0000236, indicating a 7.42% increase in the last 24 hours. This uptick suggests the beginning of a breakout, with a potential target of $0.00002954 within a few days, according to AMBCrypto's analysis. The Market Value to Realized Value (MVRV) ratio also indicates that SHIB might be undervalued, with a 30-day MVRV ratio of -1.239%.
💼 HODL Sentiment and Exchange Supply Dynamics
The supply of SHIB on exchanges has decreased, currently at 74.7 trillion, while the supply outside exchanges has increased to 927.17 trillion. This shift suggests that many SHIB holders believe in its long-term potential, reducing short-term selling pressure. This sentiment, coupled with technical indicators, supports the prediction of a price increase to $0.00002954, contingent upon market sentiment remaining positive.