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Shiba Inu (SHIB) could repeat bullish pattern - Bitcoin strategist speaks of parallel
Learn what similarities the top meme token Shiba Inu (SHIB) shares with the bullish market trajectory of 2021. A well-known crypto strategist reveals that SHIB may be repeating the same pattern it did before rallying to its all-time high of $0.0000861. Read more about this exciting development and also find out why the cryptocurrencies Solana (SOL) and Dogecoin (DOGE) could also offer interesting prospects.
Shiba Inu (SHIB) could repeat bullish pattern - Bitcoin strategist speaks of parallel
A crypto strategist claims that the popular meme token Shiba Inu (SHIB) may be repeating a pattern seen during the 2021 bull market. The analyst tells his 436,200 followers on social media platform X that SHIB is currently retesting its weekly support level at $0.0000279. In the last market phase, SHIB tested the same price range before its record highs of $0.0000861. The strategist shows that SHIB was ultimately rejected by a blue resistance line. In 2021, SHIB tried again to break through this blue resistance line, but failed again this time and had to retest the orange support level to confirm further price increases. SHIB is currently in this testing process again.
A table with more information about SHIB could include relevant data such as the current price, all-time high, and percentage increase during the last bull market.
The strategist also mentions that smart contract platform Solana (SOL) successfully converted its resistance at $175 into support. The Solana retest phase is still ongoing and continues to be successful. The current price of SOL is $185.24.
Additionally, the strategist speculates that SHIB's competitor, Dogecoin (DOGE), may be in the process of forming a bullish continuation pattern on the weekly chart after breaking through a multi-month diagonal resistance line. If Dogecoin is able to hold current highs, a bullish flag could potentially develop here. The price of DOGE is currently $0.173.
It is important to note that this article is part of a press release and information comes from an anonymous source. Therefore, readers should conduct further research before making investment decisions.