Suddenly, Shiba Inu makes it to the news, promising a 20% growth shortly to reach $0.000020.
SHIB is one of the most popular meme coins in the world. Its sudden bullish action this Monday makes the investors dream of great profits.
In the last two months, Shiba Inu saw a major decline. But the market sentiment is gradually moving uppish.
Struggling days for Shiba Inu are Over
The coin finally made it to the Breakout stage. Investors are already talking about it. A mass buy event could follow suit. Meanwhile, the coin has marked a breakout level. At this level the triangle price pattern is visible. Moreover, Shiba Inu took only 4 hours to form this triangle price action.
Each time Shiba Inu made this pattern, selling increased. But this time it might be different. Once the coin can break its pattern and close this four-hour streak at a price above $0.0000 17, there is a high chance that 20% growth would be finally possible.
Trader’s takeaway
Inflow and outflow data suggest that $1.65 million is already banked by the coin. Certainly, a hint of an extraordinary price surge. On the downside, it also hints at a potential sell-off. Once the selling pressure improves on frail and emerging coins like SHIB, it only means further price drops.
However, intraday traders are extraordinarily hopeful. As a result, the open interest in this coin increased 12% on Tuesday. It surely suggests the build-up of interesting new positions.
