SHIB Price Prediction: After Surpassing Pepe, Will Shiba Inu Rise Another 15%?
SHIB has been gaining momentum recently, and it has bucked the trend despite bearish market structure and price trends. This week, SHIB has broken through the short-term resistance range, and the price has jumped 15% from the low point on Friday, July 12.
This wave of operations has made SHIB's short-term performance better than Pepe, and the on-chain data also suggests that there may be more sweetness in the future.
When it comes to the trend of the week, Monday is often a weather vane. So, what will happen to the price of SHIB next? Should traders prepare for a bull market?
The good news is that this wave of SHIB's breakthrough has exploded on Telegram. The latest analysis points out that SHIB has many bullish signals in the short term. On the 6-hour chart, the price has broken through the important resistance level of $0.000017.
Moreover, the Awesome Oscillator indicator also showed a positive crossover signal, and the rise is getting stronger and stronger. The CMF indicator has been firmly above +0.04 over the past week, indicating strong buying power.
Now, SHIB is heading towards the $0.00002 to $0.000021 area, which is the next bullish target.
However, we have to look at the big picture. From the perspective of the large time frame charts such as the daily and weekly charts, the downward trend that SHIB started in April has not yet fully reversed.
Traders are also skeptical about SHIB's trend. Although the price has risen, the funding rate in the futures market is still negative, and the trading volume has not increased much over the weekend.
Another interesting thing is that the change in SHIB's market value relative to BTC is also a very realistic reflection.
Interestingly, there was a wave of short positions liquidated on Sunday night, which may add fuel to the price.
Overall, if SHIB can continue to rise like this, those market participants who were originally skeptical may be led away by the "fear of missing out" (FOMO).
If you are still underwater, if you are bullish, it will fall, if you are bearish, it will rise, follow me and pin it to the top of the page, I will take you ashore and share the free profit code every day!
