Shiba Inu Grafikleri Sinyal Veriyor: Fiyat Ne Kadar Yükselecek?

In the markets, Shiba Inu (SHIB) seems to have a potential to further extend its recent gains. According to technical analysis, the meme coin is said to be ready for a 30% rally. Moreover, increasing buying pressure and strong support levels are supporting this rise. So, will SHIB surpass its price recorded this week? Here are the possibilities and technical analysis.

Shiba Inu is Forming a Handle and Cup Formation

First, on the daily chart, SHIB has formed a "cup and handle" pattern. This pattern is characterized by the price first forming a "U" shaped bottom and then experiencing a slight decline (cup). Furthermore, this structure usually signals that an uptrend will continue.

In this context, Shiba Inu formed the "handle" part of this formation, moving between 0.000013 dollars and 0.000018 dollars from mid-July to the beginning of October. The cup began to take shape at the beginning of last month. It is still on the chart. However, if buying pressure increases, the value of SHIB will rise above 0.000019 dollars.

Buying Pressure Increasing

In addition, the Money Flow Index (MFI) also indicates an increase in buying pressure on Shiba Inu. MFI is an oscillator that evaluates the buying and selling pressure of an asset by combining price and volume data. This indicator, which moves between 0 and 100, indicates overbought conditions above 80 and oversold conditions below 20.

Furthermore, the MFI is currently on the rise, indicating that investors are leaning towards buying SHIB. If this trend continues, there may be further increase in the value of the meme coin. However, if the MFI drops, selling pressure may come into play and could alter price predictions.

Shiba Inu Price Prediction: Target 0.000025 Dollar

On the other hand, on the daily chart, SHIB is encountering a resistance at its current value. However, with increasing buying pressure, it can overcome this barrier. Furthermore, analyses conducted using Fibonacci correction levels indicate that SHIB's price could rise up to $0.000025.

Fibonacci retracement levels are horizontal lines that help determine support and resistance points. Currently, Shiba Inu has bounced from the 61.8% retracement level. This is a positive signal for the price to continue its upward movement. However, if it fails to break $0.000020, it is likely to drop to $0.000015. As we have also reported on Kriptokoin.com, meme coins are quite risky. It is important to do your own analysis when investing.

To be informed of the latest developments instantly, follow us on Twitter, on Facebook, and on Instagram, and join our Telegram and YouTube channels!