$SHIB The calm before the storm, or about to hit a historical high!
On Sunday, SHIB surged strongly, but on Monday it experienced a sharp pullback along with other cryptocurrencies.
However, this could be the calm before the storm, as this popular MEME coin may set a new historical high.
Yesterday, CryptoPotato reported on the positive price movements of this second largest MEME coin, when SHIB was performing best among large-cap altcoins, soaring over 15% in 24 hours. Thus, SHIB reached its highest level since March this year, exceeding $0.000033.
However, the entire market changed dramatically on Monday, with many assets falling sharply. For instance, Bitcoin dropped from over $98,000 to below $95,000, possibly due to some whales taking profits.
SHIB also did not escape, with a daily drop of nearly 10%, falling below $0.00003. However, Diamond-Hands pointed out that SHIB's correction may have ended, and the asset seems ready to start a new round of increase from this moment.
Ali is focusing on $0.000037 and believes that as long as SHIB remains above the key support level of $0.000025, the asset could reach that level. Currently, this support level is still valid.
Of course, some SHIB-related pages continue to hold a highly optimistic view of the asset's future prospects, emphasizing its potential to set a new historical high. To achieve this, SHIB's price needs to triple from the current level, as its historical highest price is $0.00008616.
SHIB's rise over the weekend confirmed another bull market pattern, indicating its potential to further join the bull market. Therefore, the target of $0.000081 remains valid, which means SHIB could indeed aim for the aforementioned historical highest price soon.
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