Shiba Inu stands out among the cryptocurrencies that have attracted the attention of investors recently. After a significant breakout in September, SHIB is consolidating again in a similar formation. So does Shiba Inu have a chance to rise strongly this time?

Last month, Shiba Inu broke out of a descending triangle pattern, giving investors a significant profit. Now it seems to have returned to the old formation and is testing the resistance level. If this breakout occurs, the price of SHIB could skyrocket again.

Current Status of SHIB

After the breakout on September 18, the Shiba Inu price rose to $0.000020. However, at this point, with the correction that has been experienced, it has started to form an upward pattern again. SHIB, which is currently testing the resistance of this system, is likely to rise to $0.000027 if a successful breakout occurs. Of course, this is where the expectations are high, but we should not forget that things change rapidly in the crypto world.

Despite the bullishness in the market, an increase in trading volume is often seen as a sign of a long-term increase. Indeed, as the Shiba Inu price increased, trading volume increased by more than 19%. However, there is one detail to consider here: large whale accounts have not been actively trading. This suggests that large investors have not yet acted or that they may be waiting. While this represents an opportunity, it also suggests that one should be cautious.

What Does Technical Analysis Say?

Looking at the technical analysis of Shiba Inu, we see that it is facing resistance at the 20-day Simple Moving Average (SMA). If there is a breakout above this level, it seems that the price will rise to $0.000027. But things may not be that simple. Because the MACD indicator is giving a bearish signal in the short term. This is a key sign that SHIB may not achieve the expected increase in the short term.

There are a few key points that investors should keep in mind here. The price correction and the possibility of breaking resistance levels will determine the course of this process. It is important to keep a close eye on technical indicators, especially during periods of high volatility in the crypto market. If you need to make an investment decision, staying calm and not rushing may be the best strategy. As I always say, the market always rewards patience.

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