Shiba

2024

bullish

Shiba Inu

<p><a href="https://captainaltcoin.com/where-is-the-shiba-inu-shib-price-headed-next/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu’s price </a>action has not gone unnoticed as it developed a falling wedge pattern on its chart. Analyst Mihir highlights March 2024 as a potential key level for the cryptocurrency. The combination of technical signals and breakout trends points to a possible rally as SHIB consolidates above critical resistance zones.</p>
<h2 class="wp-block-heading" id="shib-chart-analysis-falling-wedge-breakout-sparks-optimism">SHIB Chart Analysis: Falling Wedge Breakout Sparks Optimism</h2>
<p>The <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="SHIB" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">SHIB</a> chart displays a well-defined falling wedge pattern between March and mid-August 2024. Falling wedges are known for signaling potential bullish reversals, and SHIB followed suit, breaking out of this structure in late August.</p>
<p>During the wedge formation, <a href="https://captainaltcoin.com/where-is-the-shiba-inu-shib-price-headed-next-2/" target="_blank" rel="noopener noreferrer nofollow">SHIB’s price</a> trended downward, reaching its lowest point around mid-August. The market downturn actually triggered a positive shift that signals potential growth. Right now, the price is hovering between 0.00000022 and 0.00000023, which looks like a period of stabilization. This could mean investors are gathering resources before another upward movement. The current price suggests we might be seeing the calm before a potential price increase.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="705" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-1024x705.png" alt="" class="wp-image-584255" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-1024x705.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-300x206.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-767x528.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-1536x1057.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-2048x1410.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-218x150.png 218w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-100x69.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-509x350.png 509w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611-788x542.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-611.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/RhythmicAnalyst/status/1858385302319935718" target="_blank" rel="noopener noreferrer nofollow">X/Mihir</a></em></strong>
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="support-and-resistance-zones-define-the-path-forward">Support and Resistance Zones Define the Path Forward</h2>
<p>The <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coin’s price movements have established clear support and resistance zones. The base of the wedge, located around 0.00000015-0.00000016, provided firm support during the downtrend. The upper boundary of the wedge and the breakout target near 0.00000043 now serve as key resistance levels.</p>
<p>Volume data also supports the breakout narrative. A noticeable increase in trading volume accompanied the breakout, signaling strong interest. Current consolidation with lower volumes reflects market indecision but hints at potential momentum building.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/positive-metrics-align-for-ripple-xrp-bullish-continuation-expert-predicts-spike-to-8/" target="_blank" rel="noopener noreferrer nofollow">Positive Metrics Align for Ripple (XRP) Bullish Continuation: Expert Predicts Spike to $8</a></em></strong></p>
<h2 class="wp-block-heading" id="march-2024-identified-as-a-target-level">March 2024 Identified as a Target Level</h2>
<p>Mihir’s tweet underscores March 2024 as a potential peak for SHIB. This projection may align with broader market cycles or project-specific developments, making it a closely watched timeframe for traders. According to the analyst, maintaining the current breakout zone is essential for <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">SHIB’s price</a> to achieve its long-term targets.</p>
<p>The tweet emphasizes that SHIB is actively “looking for” this level, suggesting that current price movements are pivotal in determining its trajectory. Traders are monitoring consolidation and breakout trends for further confirmation.</p>
<p>SHIB’s falling wedge breakout has positioned the token for potential gains as technical patterns align with bullish sentiment. While the consolidation phase continues, traders are optimistic about the possibility of further upward moves. With March 2024 as a projected milestone, SHIB remains on the radar of crypto enthusiasts seeking breakout opportunities.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/shiba-inu-shib-price-eyes-march-top-as-chart-hints-at-breakout/" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Price Eyes March Top as Chart Hints at Breakout</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Shiba Inu (SHIB) Price Eyes March Top as Chart Hints at Breakout

Table of Contents

CaptainAltcoin

Other articles published on Nov 18, 2024

Top AI Token RENDER Gains Momentum Following Key Breakout: What's Ahead?

Ethereum Stalls, Solana Climbs, and CYBRO Gains Momentum for 7,500% Upside

Singapore MAS Announces Plans to Boost Asset Tokenization in Finance

Sławomir Mentzen Pledges Bitcoin Reserve Strategy if Elected

XRP Hits $1 Mark—Can It Break Through to $2, $5, or Will It Be Outdone by New Crypto Contenders?

Immutable Responds to SEC Wells Notice, Asserts IMX Token is Not a Security

Join our free newsletter for daily crypto updates!