Shiba Inu (SHIB) Primed for Breakout Rally to $0.000028: Is 10X Potential in Play?

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Shiba Inu (SHIB) is showing strong bullish signs after a steep 67% drop from March to September, forming a **falling wedge pattern** that often signals a reversal. Recent price action suggests a **double-bottom formation**, hinting at a recovery.

- 50-Day EMA Resistance : SHIB’s current rally is facing its first test at the 50-day EMA.

-12% Price Recovery : The token has gained 12%, with four consecutive bullish candles reflecting renewed buying pressure.

- RSI Bullish Momentum : Despite the July death cross, the RSI is approaching overbought levels, indicating strong buying interest.

- Intraday Gain : SHIB is up 2.20%, trading at $0.00001440, and continues to trend upward.

- 200-Day EMA Target : If it surpasses the 50-day EMA, SHIB’s next target is the 200-day EMA at $0.00001683.

- Key Resistance Levels : Key resistance lies at $0.000020 and $0.000028.

- Support Level : Crucial support is at $0.00001297.

Advice :

Traders should monitor the 50-day and 200-day EMAs for confirmation of a breakout. A surge above these levels could set the stage for a rally toward the key resistance at $0.000028.

Conclusion :

SHIB’s technical patterns and bullish momentum are signaling a potential breakout. Long-term, a Fibonacci-based rally could see SHIB soar to $0.0001050, offering nearly 10X returns in the next bull cycle. Watch for these key levels as the breakout unfolds!