Shiba Inu Coin (SHIB): Internal Troubles but a Market Favorite

Shiba Inu Coin (SHIB) has recently encountered many troubles, deeply mired in internal disputes, yet its popularity in the market has instead surged, becoming a 'hot cake' in the eyes of investors.

After a significant price retracement, Shiba Inu is trapped in a weekly ascending triangle pattern. If it can break through the resistance zone, a conservative estimate for this cycle is that it could reach $0.000056; however, if it breaks below the downward trend line, the bullish setup will collapse, potentially leading to larger declines.

It also faces a situation where both price and trading volume are declining, attracting considerable market attention. Nevertheless, the corrected ascending triangle is often seen as a bullish signal, and breaking through the resistance line could provide upward momentum. From the trend, the lower yellow line's low point is rising, indicating strengthening buying pressure at high price levels; the upper yellow line is flat, suggesting strong selling pressure that hinders the breakout.

If the resistance is broken, the target price of $0.000056 is justifiable, and while trapped at present, changes in trading volume and momentum are key breakout signals.

At the same time, there are new developments in the SHIB ecosystem. Shibburn accuses the executives of manipulating strategies for personal NFT project promotion, with ongoing insider trading rumors, yet the executives have not responded. Recently, there has been movement in the SHIB Metaverse project, which, as a crucial part of L2 Shibarium, is empowered by technology and aims to be developed into a creative platform. I believe that SHIB's development should still align with Ryoshi's original vision.

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