Analyst weighs in on the potential 600% rally of Shiba Inu.

Quick Summary:

Shiba Inu: Enter The Flag Pattern Ashish’s crystal ball sees a bullish flag pattern emerging on the 1-hour chart, hinting at a potential “second leg up.” This technical indicator suggests a period of consolidation following a sharp price increase, often acting as a precursor to another upward movement.

The Extreme Greed reading on the Fear & Greed Index suggests a high level of enthusiasm, which, while positive for potential price gains, also warrants caution due to the possibility of rapid sentiment shifts.

Related Reading: Next Big Move For Bitcoin: Analysts Predict A Potential Breakout At $71,500 As of today, the overall sentiment for the Shiba Inu price prediction is neutral.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: United KingdomCanadaSouth KoreaPhilippines

Topics: SHIB Shiba Inu Altcoins Crypto Cryptocurrency Market News Memecoins

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-25 @ 21:00:45 (1 months ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 442 words

Reading Time: 3 minutes read

Sentences: 70 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21085629

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

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