Shiba Inu Predicted to Reach $0.00006 After Breaking Resistance

Shiba Inu Price Surge Signals Potential New High

Shiba Inu (SHIB) has experienced a notable three-day rally, surging by 17.56%. This marks the most significant gain for SHIB over such a period since late February, when it achieved a remarkable 370% increase.

Analyst Predicts New Yearly High for SHIB

Prominent analyst SHIB Knight believes that this current uptrend could lead to similar substantial gains. According to their analysis, the ongoing rally has successfully broken above a resistance trendline that had constrained SHIB's price for over two months.

Path to $0.00006 and Current Market Dynamics

To reach $0.00006, Shiba Inu would need a 108% rise from its current trading value of $0.00002876. With SHIB reclaiming the $0.000028 territory, the required gains have significantly reduced.

Despite the recent spike, SHIB's daily Relative Strength Index (RSI) remains below 70, indicating there is still room for further price growth. Additionally, a substantial transaction volume of 5.3 trillion SHIB was recently observed, mirroring a pattern witnessed before SHIB's previous surge in late February.

Disclaimer: This article provides general information and should not be construed as financial advice.