Shiba Inu (SHIB) might be gearing up for a notable leg-up thanks to the formation of a bullish pennant consolidation.
Renowned market analyst under the pseudonym World of Charts disclosed this development and stated, “SHIB bullish pennant consolidation under descending broadening wedge crucial trendline. SHIB on the verge of a massive breakout after a successful breakout can give a 150-200% bullish wave easily.”
Source: World of Charts
If this analysis sees the light of day, Shiba Inu will be on its way to the psychological price of $0.00003.
A bullish pennant consolidation usually materializes when a pause is witnessed in a strong uptrend. Therefore, it acts as the calm before the storm of the next upward momentum.
Meanwhile, Shiba Inu lead developer Shytoshi Kusama recently revealed an ambitious plan to roll out a Strategic Hub for Innovation and Blockchain (S.H.I.B) in the United States, offering a paradigm shift across different industries.
Bitcoin Millionaires Laugh all the Way to the Bank
Given that the U.S. presidential elections were being awaited with bated breath, Donald Trump emerged victorious, driving Bitcoin to a new all-time high (ATH) of $75,410.
This notable move triggered a surge in the number of addresses with BTC worth at least $1 million, which rose to 132,842 from 121,061. In the process, 11,487 new Bitcoin millionaires emerged, according to BitInfoCharts data.
Trump’s triumph is being welcomed with both hands in the crypto community, as his regulatory policies in the industry are expected to be friendlier than those of the previous administration.
