The Shiba Inu meme token could stage a strong bullish rally, several technical indicators indicate this. The popular meme coin is up 12% over the past four days, bouncing off its set swing low to retest the top level of the bullish falling wedge. Analysts suggest that a break above this formation could pave the way for a significant bullish rally in the SHIB.
Shiba Inu's recent rise marked a reversal from a recent pullback that saw the memcoin fall 21% from its July high of $0.0000 2018. However, bullish signs have returned with Bitcoin rising above $68,000. Glassnode data shows that the ratio of Shiba Inu network value to transactions has increased over the past few o days. And although this indicator indicated bearish sentiment on SHIB, it seems that crypto whales ignored this signal without making significant movements.
Danye Santiment also supports the cryptocurrency exchange SHIB, which is not available in the market. Yes, it's not a single token. Other important indicators, including the daily RSI and daily trend Chaikina, suggest a potential SHIB position. The results of the analysis predict the cryptocurrency, which leads to a SHIB cash payout of $0.000019, and a cash profit of $0.000 0259.
