Meme tokens often gain significant value during a market rally, which is a very positive signal. If we anticipate a more active bull market in the coming period, meme projects are likely to be among the first to rise. Therefore, I believe meme projects should attract more attention. I believe that among meme projects, not only SHIB but also #DOGE , #PEPE , #WIF , and #MEME have significant potential.
Examining the 8-hour chart of Shiba Inu (SHIB), we can see a particular formation has developed. If this structure is broken and confirmed, the price target will be the next nearby peak. Below is an example of this formation.
![](https://public.bnbstatic.com/image/pgc/202404/e2741c65c3f25eed01fe45dd0f3b0057.png)
If we analyze the Shiba Inu chart further, we can observe a downward trend forming. Breaking this trend and successfully retesting it are crucial. After this retest, I expect a move towards the green zone, which I have marked as the formation target.
![](https://public.bnbstatic.com/image/pgc/202404/31751ebecb9584f34b20b4125b1dd210.png)