Shiba Inu (SHIB) Mirrors Dogecoin's Path: Is A +100% Move On Horizon?
The daily chart reveals that Shiba Inu's price action closely mirrors Dogecoin's movements (depicted by the orange line) prior to its recent explosive rally. Currently, $SHIB is trading at $0.00002465, consolidating just above a critical resistance zone, which has now transformed into a support level.
DOGE’s Path
$DOGE broke out of a long-term descending channel earlier this month, followed by a powerful 180% rally within weeks. The breakout was fueled by strong market momentum, which SHIB is now beginning to mirror.
SHIB’s Setup
SHIB recently broke out of its own descending channel, with its price action aligning closely with DOGE’s trajectory. The breakout has already resulted in a solid 38% gain, and with RSI at a healthy 69.82, the momentum remains favorable for further upside.
If Shiba Inu continues to follow Dogecoin's blueprint, a +100% move is within reach. The next key resistance levels lie at $0.000035 and $0.000050, marking a potential doubling from the current price.
Key Indicators to Watch
Immediate Resistance: $0.000029 and $0.000035
Major Target: $0.000051 (+100%)
Support Levels: $0.000020
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