Shiba Inu Slowly Building Momentum, Aiming for a Monster Vertical Move to $0.000066651
Shiba Inu (SHIB) is forming a bullish cup-and-handle pattern on its weekly chart, with analysts projecting a breakout target of $0.000066651.The latest news on Shiba Inu: Recently, Shiba Inu has experienced mixed performance, showing gains over the past week and 14 days but a decline in its monthly metrics. In the last 24 hours, SHIB saw a modest increase of 0.19%, while it rose by a more significant 10.79% over the past week.Key trends and patterns observed by analysts and market observers suggest a potential bullish momentum for SHIB on both high and low timeframes.Shiba Inu Setting for a "Monster Vertical Move"An analyst on X, pseudo-named "Strong," reviewed SHIBs performance against using a weekly timeframe, identifying a potential cup-and-handle formation. This bullish continuation pattern often signals accumulation and consolidation before an upward breakout. The analyst estimated a post-breakout target of $0.000066651 based on historical resistance levels and projections.According to the analysis, SHIB is positioning itself as a potential "catch-up play" to Dogecoin (DOGE). Further, per the analyst, SHIB holds the status of the largest ERC-20 token on the Ethereum network and is nearing a breakout from a four-year downtrend.Moreover, the analyst suggested that Shiba Inu will commence its projected run to $0.0000666 in a "slowly then all at once" pattern, staging what he called a "monster vertical move."
Text source: The Crypto Basic
