Shiba Inu Could Surge to $0.0000259 Amid Bullish Signals

full version at coinedition

Shiba Inu could be on the verge of a significant bullish rally.
SHIB is about to break out of a bullish falling wedge.
NVT, RSI, and CMF indicators suggest a potential SHIB rally.

Shiba Inu could be on the verge of a significant bullish rally following signals from multiple technical indicators. The flagship memecoin surged 12% in the last four days, bouncing off an established swing-low to retest the upper level of a bullish falling wedge pattern. Analysts suggest breaking above this formation could see SHIB open the way for a significant bullish rally.

Shiba Inu’s recent rally marked a reversal from a recent pullback that saw the memecoin drop from its $0.00002018 July high, which led to a 21% drop in SHIB’s price. However, bullish signs returned with the recent price behavior alongside other critical indicators.

Data from Glassnode shows Shiba Inu’s Network Value to Transaction Ratio (NVT) increased over the last few days. Although the NVT suggested a bearish sentiment for SHIB, the whales seem to have ignored the signal in the past week by not making any significant move.

Notably, Santiment’s data furthe…

The post Shiba Inu Could Surge to $0.0000259 Amid Bullish Signals appeared first on Coin Edition.