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Shiba Inu Builds Momentum for 62% Rise Following Market Recovery
- Shiba Inu is showing signs of a bullish reversal with a double bottom pattern forming on the daily chart.
- The price rebounded from a 16-month low of $0.00001004 and is near a key support level.
- Analysts anticipate a 62% rally if Shiba Inu holds support around $0.00001030.
- Shiba Inu forms a double bottom pattern, indicating a potential price rebound.
- The recent bounce mirrors previous patterns, with market optimism increasing.
- Large holders have reduced SHIB holdings by 80%, suggesting shifting market dynamics.
- Shiba Inu open futures interest dropped to $122.97 million, reflecting conservative trading.
- Despite these shifts, a bullish reversal is possible if support is maintained.
- Shiba Inu's ecosystem team remains confident, focusing on long-term growth.
- Investors are advised to monitor the $0.00001030 support level for potential gains.
- If the support holds, Shiba Inu could rise to $0.00001752.
- The asset's resilience in recent months adds to the positive outlook.
- Market conditions, though volatile, show signs of strength for Shiba Inu.
- The team's commitment to growth and positive sentiment underpins future prospects.
- Shiba Inu is currently trading at $0.00001081, poised for a potential increase.
- An actual breakout could lead to retesting the May high at $0.00001765.
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