SHIBUSDT: Break out, retest and confirmation!!
2024-10-05

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Let's analyse SHIBUSDT both fundamentally and technically.

FUNDAMENTAL ANALYSIS:
Shiba Inu (SHIB) is a meme-based cryptocurrency launched in 2020, inspired by the Shiba Inu dog breed. It operates on the Ethereum blockchain and aims to build a decentralized community. Originally created as a playful experiment, it has gained popularity and features like ShibaSwap, a decentralized exchange. Despite its lighthearted roots, SHIB has attracted significant investment and speculation.

TECHNICAL ANALYSIS:
SHIBUSDT has demonstrated a bullish breakout from a descending triangle pattern, followed by a successful retest and a confirmatory candle. The price is currently supported by the 50-day Moving Average (MA).

A significant price increase is anticipated, as indicated by the substantial surge in Shiba Inu's trading volume within the last 24 hours, reaching $510.90 million. This surge suggests increased activity by Whales.

Entry Zone:
CMP to $0.00001567

Targets level:
Expecting 200% to 300% move

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