In the chaotic theater of cryptocurrency, where fortunes are made and lost faster than a Shiba Inu can wag its tail, the SHIB token has been dancing on the edge of a knife. Over the past week, it has clung to the $0.0000125 support level like a desperate man clutching his last ruble. Yet, amidst the volatility, whispers of hope emerge. Large transactions and a rising burn rate—those harbingers of speculative frenzy—could propel this meme coin to dizzying heights. Technical indicators, those soothsayers of the digital age, suggest an 81% upside. Ah, the sweet allure of the breakout! 🐕💨
Behold, the Shiba Inu price, that whimsical creature of the crypto zoo, is flirting with a bullish reversal. It has broken free from a falling wedge pattern, a technical formation as convoluted as the Soviet bureaucracy. The daily chart reveals a descending channel, a prison of sorts, in place since December 2024. Recently, SHIB tested the upper boundary of this channel, reaching a high of $0.00001303 and a low of $0.00001293. The image below captures this moment of defiance.
As the image suggests, a breakout from this descending channel could unleash the next SHIB bull rally, with a target of 81% on the upside. Imagine that—a meme coin, born of internet jest, galloping toward financial respectability. The absurdity is almost poetic. 🎭
Meanwhile, the Shiba Inu network is buzzing with activity. Yesterday, as the price rebounded to $0.00001367, large transaction volumes surged like vodka sales on a Siberian winter night. On-chain data from IntoTheBlock revealed a spike in transactions valued at $100,000 or more on March 20. The total volume of these transactions reached 7.49 trillion SHIB, worth over $97 million at the $0.000013 price point. This represents a staggering 197% increase from the 2.52 trillion SHIB traded the previous day. The image below illustrates this frenzy.
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2025-03-22 09:30