• Shiba INU price is showing bullish signals that may cause the price to surge past $0.00002 by the end of Q1 2023.
• The bullish momentum is being supported by the 200-day MA levels and the parallel channel on the daily chart.
• The much-awaited launch of Shibarium may lead to a massive pump of more than 190% in the short-term.
The crypto space is abuzz with optimism as Shiba INU, a meme-based cryptocurrency, is showing remarkable bullish signals that may spike the price levels beyond $0.00002 by the end of the Q1 2023. The Shiba INU price is flashing significant bullish momentum and has broken out from the rising wedge pattern. The breakout was initially bearish, however, the price is trading parallel to the support levels and the crucial 200-day MA levels, which are acting as a strong base. This is providing a reliable foundation for the bulls to gain back the lost positions and push the price higher.
The current trade setup shows that the token is closer to undergoing an extreme pump in the immediate short-term. The price is trading within a descending parallel channel on a daily chart which is due for a bullish breakout. This breakout is likely to be the trigger for the massive upswing of the Shiba INU price. Furthermore, the much-awaited launch of Shibarium has also been delayed, which may have an impact on the trend of the rally.
Investors are expecting the Shiba INU price to rise beyond $0.00002 in the coming days, as it is flashing the possibility of rising by more than 190%. Furthermore, the token is currently trading in a remarkably strong support level, which is further adding to the bullish sentiment. This is a critical time for the investors to seize the opportunity and gain substantial profits.
It is essential to note that the crypto market is highly volatile and unpredictable, therefore, investors should always make decisions based on their own research and analysis. Nevertheless, if the Shiba INU continues to show bullish momentum, it will be quite interesting to see how far the token will go in the upcoming months.