Can Shiba Inu Achieve a New High of $0.0002450?
$SHIB currently demonstrates promising signs of growth, holding steady at approximately $0.00003280. This stability has been coupled with an 80% rise, as indicated by the formation of a bullish cup-and-handle pattern. If SHIB manages to break out from this pattern, there's potential for it to reach a new high of $0.0002450, bolstered by strong technical analysis. However, the risk of further consolidation looms large, and a price drop below $0.0000226 could undo recent gains.
The trajectory of Shiba Inu is heavily dependent on broader market trends and the token's own dynamics. While there are indications of upward movement, the cryptocurrency's success also hinges on maintaining momentum and surpassing key resistance levels. In the volatile and competitive crypto market, failure to do so could lead to significant setbacks for Shiba Inu.
