Shiba

bullish

Theta Network

Momentum

Shiba Inu

<p>This week is closing nicely for SHIB holders. The Shiba Inu price actually pumped 16% today and broke the $0.00003 resistance level, for the first time since March.</p>
<p>What’s even more interesting is that SHIB did this while other major memes such as DOGE and BONK remain flat.</p>
<p>I checked <a href="https://www.shibariumscan.io/stats" target="_blank" rel="noopener noreferrer nofollow">Shibarium</a> and <a href="https://www.shibburn.com/" target="_blank" rel="noopener noreferrer nofollow">Shibburn</a> stats and didn’t see any reason for this pump. Shibarium stats such as the number of active accounts or number of transactions remained the same as in previous weeks, while the burn rate actually dropped 5.5% in the last 24 hours.</p>
<p>So, what’s driving the surge? Analyst Javon Marks estimates it’s a strong technical setup on the <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="Shiba Inu" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> chart.</p>
<h2 class="wp-block-heading" id="shiba-inu-price-technical-analysis">Shiba Inu Price: Technical Analysis</h2>
<p>The current chart reveals an intriguing price movement for Shiba Inu. The price is hovering in a marked area labeled as “Bull Confirmation,” with a potential target of $0.000081. This suggests a promising upward trajectory from the current price point.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SHIB</a> (Shiba Inu), after recently confirming another bull pattern, looks to be further joining the bull show as prices are now showing signs of MAJOR STRENGTH!<br><br>With holding breakouts implying that $0.000081 target to still be in play, these prices can be subject to another… <a href="https://t.co/CKpxZb7CMh" target="_blank" rel="noopener noreferrer nofollow">https://t.co/CKpxZb7CMh</a> <a href="https://t.co/lu2QT5FzEg" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/lu2QT5FzEg</a></p>— JAVON <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1863027463988637923?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The SHIB chart shows a clear descending wedge pattern, which is traditionally considered a bullish reversal signal. This pattern broke to the upside, indicating renewed market momentum. Earlier chart movements demonstrated similar smaller wedge patterns that preceded significant breakouts, creating a consistent bullish narrative.</p>
<p>Each breakout corresponds to the end of a consolidation phase, followed by strong upward movement. The sharp vertical movements emphasize significant buying pressure after these breakout moments. Downward sloping trend lines have been broken convincingly, with each breakout establishing new support zones.</p>
<p>The analyst’s tweet reinforces this bullish outlook, citing “MAJOR STRENGTH” and confirming a bull pattern. The potential 2.79x (179%+) upside suggests an aggressive but not impossible price rally. This aligns with the broader narrative of Shiba Inu’s community-driven market dynamics, where social sentiment can significantly influence price movements.</p>
<p>While the volume data isn’t directly visible, the large bullish candles post-breakout suggest substantial buying interest. The $0.000081 price target appears achievable if the current momentum continues.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/core-core-price-hits-75-gains-theta-network-theta-price-jumps-2x-heres-why-these-altcoins-are-gaining-momentum/" target="_blank" rel="noopener noreferrer nofollow">Core (CORE) Price Hits 75% Gains, Theta Network (THETA) Price Jumps 2x: Here’s Why These Altcoins Are Gaining Momentum</a></strong></em></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/why-is-shiba-inu-shib-price-up-analyst-spots-major-strength/" rel="noopener noreferrer nofollow">Why Is Shiba Inu (SHIB) Price Up? Analyst Spots ‘Major Strength’</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Shiba Inu (SHIB) Price Up? Analyst Spots ‘Major Strength’

Table of Contents

CaptainAltcoin

Other articles published on Dec 1, 2024

XRP Hits Mind-Blowing $110 Billion Target

Could FX Guys Hit $3 Sooner Than Expected? Here’s What Experts Say

Peanut the Squirrel Is Cute, But Analysts Are Eyeing BTFD Coin for 2024!

DTX and ADA show bullish price movement as expert altcoin scholar sees a new SOL ATH

SecondLane Lists 1% Stake in Pump.fun for $15M, Valuing the Platform at $1.5B

Robert Kiyosaki Warns of Bitcoin Price Crash, Pepe Unchained Presale Smashes Past $60 Million

Join our free newsletter for daily crypto updates!