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Shiba Inu analysis – the price has risen by 30% in a single day!

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Shiba Inu, like the rest of the market, has found a bottom from which it has rebounded. In the case of this canine coin, it was sharp up to 30 percent growth in a single day. With this breakthrough, the price definitely overcame the resistance of the long-term flag, which was confirmed by the highs bull volumes. Where is the next target?

Another target is the level point of control $ 0.00003400. However, the price will have to stop for a short time because it is overheated and RSI indicates overbought phase. It is thus possible that the current growth will be accompanied by stagnations, resp. short corrections, and only then reaches the mentioned target.

Shiba Inu grew by 30%Shiba Inu grew by 30%. Source: TradingView

Shiba Inu grew by 30% in a single day

In the case of the bearish scenario, it still applies not only to SHIB, but also to other coins that need to be created long-term growing minimum. To confirm the reversal of the long-term trend, it is also necessary to overcome the previous long-term maximum. In the case of Shiba Inu, it is the level $ 0.00003300.

Current growing trend and its continuation or end will depend primarily on BTC. As BTC decides to continue, so will the altcoin market. Shiba Inu is no exception, although we must say that it has achieved one of the best rebounds from the bottom, even compared to the top high-cap coins.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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