SHIB Price Prediction: After Surpassing PEPE, Will Shiba Inu Rise Another 30%?
Shiba Inu (SHIB) has managed to break out of its short-term range, having gained 15% from its low on Friday, July 12. This move has made it a better performer than Pepe in the short term, and on-chain indicators suggest that there may be more gains to come.
The weekly trend is often set on Monday. So, what’s next for SHIB? Should traders expect a bull run?
The news of this breakout has spread through Telegram. The latest report says that SHIB has a strong short-term bullish signal and a buying opportunity. On the 6-hour chart, SHIB has broken through the high of $0.000018.
The Awesome Oscillator also showed a bullish crossover, and the momentum is growing. The Money Flow Index (CMF) has remained above +0.04 over the past week, indicating that buying power is stable.
These good signs have begun to take effect, and the next goal for SHIB is to see if it can break through the resistance zone of $0.00002-0.000021.
However, from the perspective of large time frames such as daily and weekly lines, SHIB's downward trend since April has not been completely reversed.
Although technical analysis shows that SHIB is going to rise, data from the futures market has made traders cautious. The price has risen, but the funding rate is still negative, and the weekend open interest has not increased.
Let's talk about SHIB's market value. Compared with BTC, the actual situation is a bit subtle.
The liquidation chart also shows that short positions were liquidated late on Sunday, which may push up the price again.
Bullish, prepare 65,000 for the big cake. Next, I will prepare some currencies suitable for bottom-fishing. If you get lost, come and find the way! From now on, the expected return will be more than 2-5 times by the end of the month! Comments I want to follow 888
