Shiba Inu 1,000-day merger ends with 400% popularity to new all-time highs – Analysts
Crypto analyst Andy predicts that chiba inu prices will soon gather into new Highest history (ATHS). He noted that the meme coins appear to be ready to burst out from the 1,000-day merger mode, which could inspire such parabolic gatherings.
Shiba Inu sets a potential breakthrough after 1000 days of merger
exist TradingView PostsAndy said Shiba Inu appears to be expected to make a potential breakthrough, reflecting the historical price action of XRP. He revealed that Hebrew has arrived 1.618 Fibonacci time extension Nearly 1,000 days after merger. Analysts point out that this important technical indicator is often related to trend reversal.
Andy notes that the graph structure shows Similar to XRP Before calling to previous highs, it is recommended that volunteer INUs can repeat the same price action. Another bullish pattern he highlights is the shoulder should sub-pattern, which is being formed in daily time ranges. Analysts point out that this bullish reversal setting indicates potential upward momentum.
He also said that as a “forgotten” meme coin, Shiba Inu can still see new interests. He believes that positive ecosystem development such as Shibarium upgrades, Token burnSnacks and Shia token launches may be basic triggers.
Andy added that like the Bitcoin super loop, exchange supply and broader market sentiment could further support the rally. Such a rally may be similar to XRP’s unexpected surge in positive news.
Shiba Inu’s Token Burn The mixed emotions are triggered as the number of tokens burned per day remains inconsistent. On May 16, the burn rate fell by 100%. However, it has increased by 106,000% in the past 24 hours, burning 15,330,933 times during this period. Meanwhile, the burn rate has also risen by 163% over the past seven days, during which 136 million tokens have been burned.
Show obvious strength
In X posts, Crypto Analyst Javon Marks It says Shiba Inu has been showing significant strength, recovering nearly 30% over the past few days. He added that this price recovery can only be the beginning of meme coins. The analyst predicts that Shib’s price may be prompted by a difference, with an additional recovery rate of at least 105%, while the breakdown target is $0.000081.
Crypto analyst Shib Knight also offers bullish outlook for Shiba INU prices. In the X post, he said Shib is forming a drop wedge pattern with the goal of Psychological $0.00002 Price Level. A rally pointing to this level may lay the foundation for meme coins to assemble to new local highs.
At the time of writing, the Shiba INU price is trading at about $0.00001438, down nearly 5% in the past 24 hours. data From CoinMarketCap.
Featured images from Unsplash, charts from TradingView.com
Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.
