Bullish Shiba Inu Price Chart Excites Holders, But This Token Positioned for a 21,193% Vertical Move Is Attracting More Attention

Regarding meme coins, Shiba Inu’s crypto technicals are eye-popping. Short-term trades come with meme coins’ volatility, especially on Shiba Inu (SHIB). The 3-hour chart reveals a double bottom and falling wedge, meaning the token has more room for price appreciation (pun intended!) beyond the current trajectory. Based on these formations, SHIB will likely push beyond $0.00001684 and $0.00001828 in the short term. More crucially, over the past year, SHIB has formed a longer-term bullish chart pattern: a right-angled descending broadening wedge. This pattern is usually observed before a strong upward breakout following a consolidation period. As it trades close to the lower edge of the wedge, SHIB offers one of the best buy levels, particularly for long-term investors. The breakout target from this pattern is rather ambitious: $0.000115, which would bring returns of an astonishing 720% from current levels. This target demonstrates how explosive SHIB can be if it manages a decisive breakout. In the mid-to-long term, and after some short-term turbulence, combining these broader SHIB chart structures with ongoing burn activities to trim down supply creates a hopeful vision for traders and long-term holders alike. Weekly burn numbers reinforce the dedication to supply reduction, and with strong supportive technical structures, the excitement around SHIB prices could play out soon.