- Shib Price potentially broke out a channel in falling YTD in recent days.
- The Trump tokens rally on Wednesday increased the chances of an Fomo Memecoin rally.
The rise in the Bitcoin price (BTC), more than $ 92,000 in recent days, has sparked a significant increase in the same trading. Wednesday, official Trump (Trump) doubled in value, rejuvenating the same rebound – led by Floki, Pudgy Penguin (Pengu), Dogecoin (Doge) and Shiba Inu (Shib), among others.
According to data from the CoinmarketCap market, supported by Binance, the same daily memecoin negotiation volume jumped more than 102% to oscillate about $ 13.3 billion when writing this article,
Whatever side for the price of shib
Shiba Inu Price closely reflected the fractal model of Ethereum in the past twelve months. The same at mid-cap, with an entirely diluted assessment of approximately $ 7.9 billion and an average negotiation volume of approximately $ 290 million, had been trapped in a fall in the channel in the last two quarters.
However, Shib Price, within a daily time, has formed an inversion model in the last three months. From the point of view of technical analysis, the price of SHIB has formed a possible model of the reverse head and shoulder, coupled by an increased divergence of the relative force index (RSI) within the daily time.
With the daily MacD indicator about to turn around with the bullish feeling, the price of shib is well placed to rally at least 100% in the coming weeks.
The short -term bullish feeling of the shib can be invalidated if the same retracts under the upper border of the canal which falls in the coming days.
Market prospects
Shiba Inu Inu Memecoin has gradually evolved into a project based on public services after the deployment of the Shibarium layer scale solution. In addition, more than 18 DEFI projects have been launched on the Shibarium network, led by Shibaswap and WOOFSWAP.
Consequently, the total value of locked shibarium (TVL) gradually increased to around 2.3 million dollars when writing this article. The growing activity on the chain of shibarium has contributed to increasing the daily burning rate of Shiba Inu, thus increasing the value of holders.
