Shiba

Elite

Bitcoin

Shiba Inu

Coin

<p>As Bitcoin continues to surge to new all-time highs, meme coins are facing a cooling-off period. This week hasn’t seen the same meme coin momentum we’ve witnessed previously, with most liquidity currently concentrated around Bitcoin.</p> 
<p>However, if this bull run has taught us anything, it’s that meme coins will eventually have their moment in the spotlight.</p> 
<p>Elite crypto trader Ali Martinez has just updated his SHIB price forecast. Let’s see <a href="https://captainaltcoin.com/metric-that-spiked-shiba-inu-double-digit-gains-reemerges-will-shib-price-rally-again/" target="_blank">where is the SHIB price headed</a> based on his analysis.</p> 
<h2 class="wp-block-heading" id="where-is-the-shiba-inu-shib-price-headed-next">Where is the Shiba Inu (SHIB) price headed next?</h2> 
<p>The current market dynamics for <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="Shiba Inu" data-wpil-keyword-link="linked" target="_blank">Shiba Inu</a> present an interesting technical setup. SHIB is showing signs of consolidation, trading at $0.0000241, with a slight hourly increase of 0.84% despite being down 7% for the week.</p> 
<p>Traders are closely watching <a href="https://www.forex.com/en/learn-trading/symmetrical-triangles/#:~:text=Symmetrical%20triangles%20consist%20of%20two,and%20the%20point%20the%20right." target="_blank" rel="nofollow">a symmetrical triangle formation</a> on the chart, which typically indicates a period of market indecision before a potential breakout. The compression of this triangle suggests an imminent price movement in the near future.</p> 
<figure class="wp-block-image aligncenter size-large is-resized">
 <img loading="lazy" decoding="async" width="555" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-555x1024.png" alt="" class="wp-image-585374" style="width: 100%;height:auto" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-555x1024.png 555w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-163x300.png 163w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-767x1416.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-833x1536.png 833w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701.png 1110w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-81x150.png 81w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-100x185.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-190x350.png 190w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-701-788x1453.png 788w" sizes="(max-width: 555px) 100vw, 555px">
 <figcaption class="wp-element-caption">
  <em><strong>Source: <a href="https://x.com/ali_charts/status/1859493058330362114" target="_blank" rel="nofollow">X/@ali_charts</a></strong></em>
 </figcaption>
</figure> 
<p>If the SHIB price breaks above the upper resistance level of approximately $0.000025, the potential upside could see the price moving towards $0.000037. This projection is based on measuring the height of the preceding price rally.</p> 
<p>Key support levels to watch include $0.00002300 and $0.00002000, while resistance zones are identified at $0.00002500 and $0.00003000.</p> 
<p>The critical factor in confirming any potential breakout will be trading volume. A significant volume spike would provide additional validation to the technical pattern. Other than that, positive <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank">meme</a> coin momentum would favor SHIB as well.</p> 
<p><em><strong>Read also: <a href="https://captainaltcoin.com/bonk-price-pumps-following-major-exchange-listing-leading-solana-meme-coin/" target="_blank">BONK Price Pumps Following Major Exchange Listing – Leading Solana Meme Coin?</a></strong></em></p> 
<p>Traders should monitor the price action on the SHIB chart carefully. A break above the resistance could signal a bullish trend, while a drop below $0.000023 might indicate a bearish continuation.</p> 
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank">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="nofollow">FREE Telegram group.</a></strong></em></p> 
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<p>The post <a href="https://captainaltcoin.com/this-meme-coin-trader-updates-his-shiba-inu-shib-price-prediction/">This Meme Coin Trader Updates His Shiba Inu (SHIB) Price Prediction</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

This Meme Coin Trader Updates His Shiba Inu (SHIB) Price Prediction

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