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Shiba Inu: Why it’s best traders remain on the lookout
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ambcrypto.comDisclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
Not yet part of the altcoin rally, Shiba Inu, at press time, was consolidating within a bull pennant and awaited a breakout to catch up to its peers. A decisive close above $0.00003001 would set up a breakout from the pattern, one which would carry massive upside as per the length of its flagpole.
At the time of writing, SHIB was trading at $0.00002856, up by 2.3% over the last 24 hours.
Source: SHIB/USD, TradingView
A series of lower highs and higher lows over the past two weeks, combined with SHIB’s rally on 4 October, gave rise to a bullish pennant on the chart. Based on the length of the flagpole, SHIB seemed
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