Shiba Inu (SHIB) appears to be gaining bullish momentum according to recent price action and analysis. After months of decline, SHIB looks poised for a possible trend reversal and breakout based on technical factors identified by traders.
Keypoints
- Shytoshi Kusama, the anonymous leader behind Shiba Inu coin, posted intriguing messages on Telegram hinting at major collaborations.
- Kusama mentioned having discussions with “VERY important individuals” and prominent figures for Shiba Inu’s next phase of growth.
- He suggested “silence is the best weapon” pointing to potential partnerships or deals happening behind the scenes.
- Shiba Inu (SHIB) has broken out above a local downtrend resistance, signaling potential bullish momentum ahead.
- SHIB is nearing the 50-day exponential moving average (EMA), which if crossed decisively could lead to further upside.
SHIB has overcome a local downtrend resistance on its daily chart, signaling the bearish pressure may be fading. The token is also approaching the critical 50-day EMA, which if crossed, could propel prices higher towards the 200-day EMA.
Additionally, SHIB has formed a falling wedge pattern over the past two months, finding reliable support along the way. This well-defined pattern has influenced price action, with SHIB bouncing off trendlines multiple times.
With Bitcoin holding steady above $28k, market sentiment has turned more positive, benefiting sentiment-driven cryptos like SHIB. SHIB trading volumes have also picked up steam, rising 29% in a possible sign of renewed interest.
Some analysts speculate the confluence of these technical and market factors could drive a bullish breakout for SHIB by month’s end. Price targets around $0.000008 have been set if the falling wedge pattern is breached to the upside.
However, the famously volatile crypto markets could rapidly change direction. Caution is still warranted, but SHIB does appear to be building momentum after months of decline. Traders will be watching closely for a break above the 50-day EMA which could signal a recovery is imminent.
If SHIB confirms a trend reversal, it could bring some relief to long-suffering holders. But smart risk management remains essential even in bullish conditions given crypto’s penchant for volatility.
Shiba Inu Leader Hints at Major Developments Through Cryptic Messages
The pseudonymous leader of the Shiba Inu cryptocurrency project known as Shytoshi Kusama has sparked excitement and speculation among the community after posting some cryptic messages hinting at major collaborations and developments.
On his Telegram channel, Kusama mentioned having discussions with “VERY important individuals” and prominent figures for the next phase of Shiba Inu’s growth. He added the intriguing statement that “sometimes silence is the best weapon,” seeming to imply significant partnerships or deals may be brewing behind closed doors.
This evocative messaging has fueled speculation among Shiba Inu investors and advocates about what big integrations or adoptions could be in progress. Some have guessed at potential tie-ups with major retailers like McDonald’s or Burger King accepting SHIB payments.
