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TronWeekly

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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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