Shiba Inu ( SHIB ) is eyeing a 55% gain with its technical formation.
Shiba Inu (SHIB)According to technical indicators, prices are on the verge of a major explosion. popular memecoinIf it clears the key resistance level of $0.000025, it could reach $0.000037 with a 55% gain. This prediction was shared by crypto analyst Ali Martinez.
In his post on X (formerly Twitter), Ali Martinez said he expects a big increase in SHIB’s price. Martinez believes the Shiba Inu is ready to rise in what is called a “bull flag” formation.
A bull flag formation signals a rally for SHIB.
A bull-flag pattern consists of two main components that can be clearly seen on the chart: a rapid price movement (“flagpole”) followed by a period of stability within a descending channel (“flag”).
In the chart shared by Martinez, this formation appears to be correct for now. The sloping lines of the descending channel indicate that the bullish momentum has not yet ended and indicate the possibility of a potential breakout.
As of November 21st, Shiba Inu (SHIB) is trading at $0.000024. Although it experienced a 3.38% decline in the last 24 hours, it gained 31.48% in value over the past month. This increase shows that the token continues to attract investor interest despite short-term volatility.
SHIB has a daily trading volume of $1.13 billion, indicating strong market activity and liquidity. With a market cap of $13.98 billion, Shiba Inu is one of the best performing memecoins with a total circulating token supply of 589.26 trillion.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
