Shiba Inu Coin (SHIB): Still attracting market attention despite the chaos

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Despite the sharp correction in the price of Shiba Inu Coin (SHIB), it is still in the 1-week ascending triangle pattern. If it breaks through the resistance zone, the price is expected to reach $0.000056. However, if it falls below the downward trend line, it may trigger a larger decline.

From a technical point of view, the corrected ascending triangle is generally regarded as a bullish signal, and once the resistance line is broken, the price may rise further. The upward movement of the lower lows indicates that buying is gradually strengthening, but the parallel resistance line above shows that selling pressure still exists, which may restrict the price breakthrough.

The current conservative target price is $0.000056, which is based on the height of the triangle and the breakout point. However, the key factors for the breakthrough depend on the volume and momentum changes, and investors need to pay close attention to these signals.

On the other hand, some new developments have occurred in the Shiba Inu Coin ecosystem. Shibburn, a well-known coin burning tracker, exposed the accusations of SHIB executives, saying that Shytoshi Kusama and others used the official name to promote personal NFT projects and hinted at insider trading. However, SHIB executives have not yet responded to this. At the same time, the progress of the SHIB Metaverse project has become the focus of attention. As a key part of Shibarium's second layer, it will be committed to creating a platform of "creativity, connection and belonging."

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