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Shiba Inu Breakout Incoming? Bullish Setup Hints At Big Jump, Experts Say

  • Shiba Inu hit an intraday low of $0.000010 on Sunday, its weakest level in 16 months.
  • Market analyst Tom Tucker suggests this low could lead to a significant rebound.
  • The meme coin has dropped 14% in June and is down 37% from its May high of $0.00001764.
  • Tucker notes a potential double bottom pattern forming on SHIB's daily chart.
  • SHIB's support level at around $0.00001030 will be crucial for confirming the pattern.
  • If the support holds, Tucker predicts a 62% rally back to $0.00001752.
  • Whale wallets have decreased by 80%, and open interest in SHIB futures is at a 1-month low.
  • The Shiba Inu team urges patience among the community despite recent price movements.
  • Market sentiment and whale actions will play a role in SHIB's future price action.
  • Investors should monitor volume, whale behavior, and overall crypto market sentiment.
  • The next move for SHIB will depend on whether it can hold above the $0.000010 support level.
  • Traders are advised to watch for potential signals before making investment decisions.
  • Featured image from Imagen, chart from TradingView

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