Shiba Inu forms a bull flag, is it time to buy meme coins?
Shiba Inu forms a bullish flag, is it time to buy coins?
Analyst Ali highlighted a bullish flag on the #SHIB chart.
#Shiba Inu prices were still trying to rise.
Technical analysis showed consolidation.
According to experts, Shiba Inu is ready for a significant increase based on the current market dynamics. They noted that a bull flag pattern has formed on the price chart for the Shiba Inu. A bull flag pattern, similar to a pole flag, is characterized by a slight downward consolidation after a significant upward price movement.
flag is a period of consolidation that forms a flagpole after the first price spike that formed the flagpole.
Javon Marks, who studies the opinions of other analysts, said that Shiba Inu (SHIB) is in the spotlight. As he writes, its daily chart shows promising signs of entering a new bullish phase.
experts say that a significant price rise is possible after SHIB recently broke an important resistance level. According to his recent analysis, the coin #meme could be on the #verge of a big rally.
he said that the breakout target is $0000081, which means a potential upside of more than 216%. If the momentum continues, SHIB investors are likely to witness a price spike that is more than 3 times the current valuation.
However, the market performance of Siba-inu has been slightly downgraded. Currently, Shiba Inu prices remain at 0.000002749, up 11.31% from the previous day.
The market value is around ¥16,19,000. Experts expected SHIB's price and daily trading volume to rise.
As a result, the memes coin gained momentum within 24 hours. The Shiba Inu chart showed that SHIB is in a consolidation phase after a significant upward spike and "consolidation" in a very narrow trading range.
The price movement was limited by the consolidation boundaries that are highlighted on the chart.
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