4 Reasons Why Shiba Inu Prices Are About to Skyrocket🔥🔥🔥

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Shiba Inu price is showing strong upward momentum

Shiba Inu is a popular meme-based altcoin, and its price has recently risen by 10%, indicating increasing investor interest. After Bitcoin reached an all-time high, SHIB also demonstrated strong upward momentum.

Here are 4 key reasons for SHIB's bullish breakout potential:

Inverted head and shoulders pattern suggests a bullish reversal 30-day MVRV below zero, selling pressure decreases Exchange supply decreases, bullish momentum strengthens Global capital inflow/outflow indicators show little future resistance

These factors combine to suggest that SHIB may break out on a large scale.

SHIB price is expected to break through to new highs

According to the inverted head and shoulders pattern, SHIB price may move towards 0.000023, indicating strong upward momentum. On-chain data shows that selling pressure is decreasing, the 30-day MVRV ratio has significantly dropped, and holders are in a good profit situation, suggesting a potential bullish reversal.

SHIB price driven up by the cryptocurrency market

SHIB price is $0.00002727, a slight increase of 2% in the past 24 hours. The overall rise in the cryptocurrency market, driven by BTC and ETH, has propelled SHIB's upward trend. If the bullish trend continues, SHIB price may reach $0.00004 by the end of 2024.

In summary, the continued growth of investor sentiment, bullish chart patterns, reduced selling pressure, and strong on-chain indicators make it possible for SHIB price to break through to new highs.

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