The Shiba Inu cryptocurrency might see its price jump by 16% if it keeps following the upward channel pattern seen in its 4-hour trading chart.
Getting listed on Bitcoin.com.au is a big deal for Shiba Inu because it could mean more people in Australia buy into it, potentially driving its price up.
In the past 24 hours, Shiba Inu's trading volume hit $1.78 billion, although it saw an 18% drop. Despite this, Shiba Inu has bounced back from a low of $0.000024, recovering from a two-week dip that took it down from $0.0000458. This comeback has seen its price surge by 30% in a week, now trading at $0.00003. This rebound is likely fueled by the overall market's recovery, pushing Shiba Inu's price target to $0.000045 if the buying spree continues.
The entire meme coin sector, including Dogecoin, Shiba Inu, PEPE, and FLOKI, has enjoyed significant gains this week, thanks to a broader cryptocurrency market upturn. Bitcoin's rise from $60,000 to $70,000 has especially helped.
After dipping to $0.00002388, Shiba Inu's price has recovered to $0.00003, a boost that's been partly attributed to its new listing on Bitcoin.com.au. This move is expected to attract more Australian investors to Shiba Inu, enhancing its liquidity and market value.
Looking at the 4-hour chart more closely, it seems the rally is being driven by buyers operating within a channel pattern. As long as this pattern's support and resistance lines hold, the Shiba Inu price could continue to climb.
