Shiba Inu Could Surge 340%, Echoing Its 2021 Bull Run Peak — Analyst

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Shiba Inu Could Surge 340%, Echoing Its 2021 Bull Run Peak — Analyst - NewsBTC

Quick Summary:

With SHIB broken out of a recent Falling Wedge pattern and a much larger (unpictured) resisting trend, an over 342% run from here to it could happen ASAP, and this falling wedge break may only help spark the process 🧨! pic.twitter.com/eefYqFGg1N — JAVON⚡️MARKS (@JavonTM1) October 11, 2024 The Power Of A Falling Wedge For the last five months, SHIB has been in a falling wedge pattern, which is a chart pattern in technical analysis that normally trends with a strong bullish reversal.

The current position at a neutral 50 of the Fear & Greed Index reveals a balanced state of mind on the market and correlates well with cautious optimism regarding the change in SHIB price.

Meanwhile, there still is room for development, but traders and investors should continue to watch closely the activity of the price because the next steps for SHIB can validate the breakout or trigger even more consolidation.