Shiba Inu Breaks Out—Trader Spots High-Octane Profit Setup

Shiba Inu’s price action just punched through resistance—and one trader’s chart screams ’buy.’ Here’s why the memecoin might be gearing up for a wild ride.

Forget fundamentals—this is pure technical adrenaline. A bullish flag pattern on the daily chart suggests a potential 30% surge if momentum holds. Of course, in crypto-land, ’if’ is doing some heavy lifting.

Just another day in the casino—where dog-themed tokens outpace regulated ETFs and traders worship at the altar of logarithmic rainbows. Place your bets.

The token’s market capitalization stood at approximately $7.55 billion, with a 24-hour trading volume of $135.89 million. Against this backdrop of slight gains, crypto trader Amir Rajpoot BNB issued a notably bullish “SHIB/USDT Trade Alert!” to his followers, a common practice among crypto traders aiming to highlight perceived short-term opportunities.

Trader Details Ambitious Targets for Shiba Inu Price

In his alert, Rajpoot declared, “Reversal signs are flashing GREEN!” He cited a “Current Price: 0.00001273” at the time of his analysis and pointed to a “Recent Dip: 0.00001225 (Possible bottom!).”

Rajpoot then laid out a specific “Trade Setup,” advising a “Buy Zone: 0.00001260 – 0.00001275.” His “Take Profit Targets” for the Shiba Inu price were listed as: “• TP1: 0.00001321• TP2: 0.00001374• TP3: 0.00001428.” To manage risk, he suggested a “Stop Loss: Below 0.00001225 (Play it safe!).”

The rationale underpinning this optimistic call, as stated by Rajpoot, included a “Strong bounce from support,” observations of a “Bullish structure forming,” and what he termed “Solid risk/reward potential.”

Market Indicators Offer Sober Context for Shiba Inu

While such specific trade setups and bullish pronouncements generate excitement within certain trading communities, objective chart analysis shows the shiba inu price continuing to navigate below some key longer-term moving averages. The recent 24-hour trading volume, while substantial, does not immediately indicate the sort of surge typically associated with a confirmed, major breakout as suggested by the headline.

The current market situation presents a contrast: a slight actual price increase for SHIB alongside a trader’s strong conviction of a significant upward move and profit opportunity. Whether Shiba Inu follows this more aggressive bullish path or continues its pattern of modest fluctuations and consolidation will likely depend on broader market sentiment and a sustained increase in buying pressure.

Read More

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.