SHIB shows strong upward trend, key support is stable at $0.00001722

The rising market sentiment and the promotion of short-term liquidation are injecting new momentum into SHIB's growth potential

Recently, Shibainu [SHIB] has once again become the focus of the market, and its successful breakthrough of the falling wedge pattern has released a strong bullish signal. Currently, the trading price of SHIB has climbed to $0.0000178, with a 24-hour increase of 5.98%.

Faced with this new trend, the market generally pays attention to whether SHIB can continue to rise and lead the entire cryptocurrency market to a rebound.

From the price trend, SHIB is constantly testing key price levels, showing signs of trend reversal. The tightening of the Bollinger Bands (BB) and the trading of SHIB near the upper band of $0.00001784 both indicate the arrival of increased volatility and potential breakthroughs.

At the same time, the RSI index reached 65.36, and although it is close to the overbought area, SHIB still has room to rise. As long as the price remains above the midline, the bullish momentum is expected to increase further.

SHIB also shows positive signs in terms of on-chain activity. In the past 24 hours, the number of active addresses increased by 1.1% to 267 (CryptoQuant data), and the number of transactions also increased by 1.1%, with a total of 7.41 million transactions. The rise in these data shows that the market's interest in SHIB is gradually heating up, adding a bright spot to its long-term prospects.

In addition, the comparison between longs and shorts also shows that bullish sentiment has the upper hand. Currently, long positions account for 55.62%, short positions account for only 44.38%, and the long/short ratio is 1.2533. This shows that traders are generally optimistic about SHIB's upward trend.

Finally, liquidation data also provides clues for SHIB's next move. In the past 24 hours, SHIB's short-term liquidation amount reached US$26.764 million and the long-term liquidation amount was US$21.424 million. This means that short sellers are facing increasing pressure and may be forced to close their positions and push up SHIB prices.

At present, I have locked in a potential dark horse coin that is about to soar. Doubling is just an easy jump! The bigger goal is to carefully select a batch of potential coins that are expected to explode before the end of the year. I will announce the specific big moves later. Find me for the main business and share directly! #SHIBA🚀