The Shiba Inu ($SHIB ) technical formation is blinking a 55 percent increase.

Shiba Inu (#SHIB ) is on the verge of a major price explosion, according to technical indicators. The popular memecoin has broken through the critical 0.000025 resistance level, reaching 0.000037 with a 55 percent increase. This prediction was shared by crypto analyst Ali Martinez

Ali Martinez stated in a post on X (formerly Twitter) that he expects a major increase in the SHIB price. Martinez called the formation "bull flag" (bull flag) according to the rise of Shiba Inu.

Bull Flag formation signals a rally for SHIB

The Bull Flag formation consists of two main groups that can be clearly seen on the chart. These components are a sharp upward price movement (“flagpole”) followed by a consolidation period within a descending channel (“flag”).

In the chart shared by Martinez, it was seen that this formation is currently valid. The sloping lines of the descending channel indicate that the upward momentum has not yet run out and a potential breakout is taking place.

As of November 21, Shiba Inu (SHIB) is trading at $0.000024. Although it has experienced a 3.38 percent decrease in the last 24 percent, it has gained 31.48 percent in value in the last month. This increase shows that the token continues to attract investor attention despite volatility in the short term.

SHIB's daily trading volume is at 1.13 billion, indicating strong market activity and liquidity. With a market cap of 13.98 billion, Shiba Inu continues to be one of the best-performing memecoins with a total circulating supply of 589.26 tokens.

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