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Shiba Inu Skyrockets 12%: Is Bigger Move Ahead?
In a surprise turn of events, the price of Shiba Inu (SHIB) has skyrocketed by an astonishing 12%, leaving many in the crypto community questioning whether this uptrend is here to stay or simply a flash crash. Tomiwabold Olajide, a seasoned cryptocurrency analyst and technical expert, closely monitors key support and resistance levels.
According to his analysis, the ability to break through the daily SMA 50 at $0.0000252 could signal a continuation of the upward trend, potentially leading to further gains for SHIB investors. However, a failure to breach this crucial level may prompt a retracement back down to retest the $0.0000185 support range.
Market sentiment remains cautious, with traders closely monitoring Shiba Inu’s price action to determine whether this sudden surge is merely a temporary anomaly or an indication of a larger trend reversal.
A decisive break above the 50-day SMA could pave the way for SHIB to target the $0.000033 high, while a rejection may result in consolidation or a retest of support levels.
As investors weigh their options and consider the potential implications of this dramatic price movement, it is crucial to continue monitoring key resistance and support levels closely.
In conclusion, it remains essential to keep an eye on SHIB’s price action moving forward.
Source: u.today
