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Our analysis of the situation
Shiba Inu has been on a rollercoaster ride lately, and current price action suggests that things might be about to get even more interesting. After bouncing back by an impressive 19% from its low at the beginning of the month, the meme cryptocurrency is catching the eye of crypto enthusiasts and analysts. One crypto expert even believes that SHIB could be gearing up for a whopping 120% surge in the near future, and the charts seem to be backing up this bullish outlook.
The journey for SHIB has been a wild one, with a price correction setting in after it briefly touched a high in early March. This led to a sharp decline, raising concerns among investors. However, things seem to be turning around, with indications of a potential bullish breakout looming on the horizon.
According to a chart shared by the crypto analyst World Of Charts, SHIB has been consolidating in a bullish flag pattern for the past two months, a sign that a significant bullish wave could be on the way. The analyst is not only optimistic about a short-term surge, but also sees the potential for a substantial 280% price increase over the longer term.
The recent formation of a higher low on the weekly timeframe suggests that the bulls may be gaining ground once again, instilling hope for a brighter future for SHIB. With over 56% of SHIB holders currently in profit and the number rising, it's clear that many investors are optimistic about the cryptocurrency’s potential. The recent partnership between PayPal and MoonPay has added to this optimism, making it easier for PayPal users in the United States to get their paws on SHIB.
As the momentum builds, popular crypto analyst Ali Martinez has also predicted a price surge for SHIB based on a bullish flag on the token’s price chart. With the stage set for potential fireworks, it seems that Shiba Inu might just be ready to let out a howl of triumph.
As the crypto world watches and waits, the question on everyone’s mind is: can Shiba Inu push higher? With signs pointing to a resounding yes, the stage is set for an intriguing and potentially lucrative period for SHIB holders. Keep your eyes on the charts and get ready for what could be the next exciting chapter in the Shiba Inu saga.
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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