Shiba Inu (SHIB) Price Consolidates, Analyst Predicts ATH Soon!

Shiba Inu (SHIB) Price Consolidates, Analyst Predicts ATH Soon!
  • Shiba Inu is bullish after breaking above a diagonal barrier.
  • The bulls tried to push SHIB over the weekly mid-price.

In the final week of October 2021, the Shiba Inu hit a peak of $0.00008845. Shiba coin has also grown by nearly 69% in recent months. SHIB has traded in the region of $0.0000512 – $0.00005537 in the past 24 hours, with $0.000056 being the next barrier. In a downtrend, support is at $0.000044.

The RSI is balanced at 51.86, and the moving averages are also neutral. In addition, a well-known crypto strategist and trader believes Shiba Inu (SHIB) is about to hit an all-time high.

Bullish Momentum

Shiba Inu is bullish after breaking above a diagonal barrier that has held Shiba negative in previous weeks, according to analyst Scott Melker. He says he purchased SHIB when it was breaking out and believes it will re-test its all-time high.

Scott stated:

“This thing has a ton of volume. We’re seeing this four-hour candle is the biggest in a few days, breaking out. I love that. My target’s up here ($0.000089).”

A 219 percent increase from October 23 to 28 saw SHIB hit an all-time high of $0.0000885. Analysts call this climb a ‘Flagpole’. The price of Self-claimed DOGEKILLER steadied after a wild surge with lower highs and higher lows.

Bulls tried to push SHIB over the weekly mid-price of $0.00005433. Sadly, it ran out of steam after the US inflation report. According to CoinMarketCap, the SHIBA INU (SHIB) price today is $0.000055 USD with a 24-hour trading volume of $2,299,906,081 USD. SHIBA INU has been up 3.70% in the last 24 hours.

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