{"id":644249,"date":"2024-09-24T21:30:58","date_gmt":"2024-09-24T21:30:58","guid":{"rendered":"https:\/\/www.wncen.com\/?p=644249"},"modified":"2024-09-24T10:47:05","modified_gmt":"2024-09-24T10:47:05","slug":"shiba-inu-200-rally-triangle","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/shiba-inu\/shiba-inu-200-rally-triangle\/","title":{"rendered":"Shiba Inu Symmetrical Triangle Pattern Reappears, Why A 200% Rally Is Possible"},"content":{"rendered":"

Shiba Inu (SHIB) may be on its way to <\/span>reclaim former price highs<\/span><\/a>, as a crypto analyst identified as the \u2018Charting Guy\u2019 has confirmed the reappearance of a unique <\/span>symmetrical triangle pattern<\/span><\/a> on the SHIB price chart. A breakout from this symmetrical triangle could see Shiba Inu potentially rallying above 200% from its current price.\u00a0<\/span><\/p>\n

Shiba Inu Triangle Pattern Points To Breakout<\/h2>\n

On September 23, Charting Guy took to X (formerly Twitter) to <\/span>unveil<\/span><\/a> a new trend pattern in Shiba Inu\u2019s price chart. The chart highlighted three wave patterns and several Fibonacci retracement levels which acted as resistance and support zones for <\/span>Shiba Inu\u2019s price<\/span><\/a>.<\/span><\/p>\n

Related Reading: Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish<\/a><\/div>\n
\"Shiba
Source: X<\/figcaption><\/figure>\n

In classic wave 1 and 2, Shiba Inu\u2019s price movements exhibited a series of fluctuations, followed by a brief upward momentum before sliding downwards again. Now in wave 3 which the analyst has predicted would be an explosive one, Shiba Inu has formed a historical symmetrical triangle pattern which could trigger a <\/span>potential surge to new highs<\/span><\/a> at $0.0.0000493, representing a 244% rally.\u00a0<\/span><\/p>\n

Currently, Shiba Inu is trading at $0.0000143, with its next key resistance at the 0.382 <\/span>Fibonacci retracement level<\/span><\/a>, near $0.0000164. If the meme coin fails to surpass this resistance, the 0.236 Fibonacci retracement level at $0.000011 could provide strong support.\u00a0<\/span><\/p>\n

In contrast, if Shiba Inu exceeds resistance levels at $0.0000164, the cryptocurrency could see its <\/span>price breakout<\/span><\/a> to $0.0000226. More resistance can also be seen at Fibonacci retracement levels around 0.618 and 0.702, representing the $0.0000312 and $0.0000392 price marks, respectively.\u00a0<\/span><\/p>\n

If Shiba Inu can successfully break out of these key levels, the cryptocurrency would <\/span>experience an explosive surge<\/span><\/a> to $0.0000493, a price level well above its previous March high of around $0.000045.\u00a0<\/span><\/p>\n

Interestingly, this price level is not the highest Shiba Inu can reach based on its symmetrical triangle pattern. According to the Charting Guy, if SHIB can break above the 0.888 Fibonacci retracement level at $0.0000651, the meme coin could potentially skyrocket to <\/span>new all-time highs <\/span><\/a>at $0.0000884, corresponding to the 1 Fibonacci retracement level and marking a massive rally of approximately 518%.\u00a0<\/span><\/p>\n

However, in the event that Shiba Inu fails to surpass this key level, it is likely to find support at the 0.786 Fibonacci retracement level of $0.00004936.\u00a0<\/span><\/p>\n

Related Reading: Diamond Hand Ethereum Whale Moves 15,000 ETH, Here\u2019s The Destination<\/a><\/div>\n

SHIB Price Analysis<\/h2>\n

Supporting the optimism surrounding <\/span>Shiba Inu\u2019s future outlook<\/span><\/a>, the cryptocurrency has been on a steady upward trajectory. In the past week, the <\/span>price of Shiba Inu increased <\/span><\/a>by an impressive 8.91%. However, it has recently retraced some of those gains, experiencing a 1.52% decline in the last 24 hours.\u00a0<\/span><\/p>\n

Earlier in March, Shiba Inu witnessed a significant rally, positioning it as one of the <\/span>top gainers<\/span><\/a>. According to data from CoinMarketCap, the cryptocurrency has seen a staggering 95.65% price increase since the start of 2024.\u00a0<\/span><\/p>\n

\"Shiba
SHIB price pushes toward $0.000015 | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB) may be on its way to reclaim former price highs, as a crypto analyst identified as the \u2018Charting Guy\u2019 has confirmed the reappearance of a unique symmetrical triangle pattern on the SHIB price chart. A breakout from this symmetrical triangle could see Shiba Inu potentially rallying above 200% from its current price.\u00a0 Shiba Inu Triangle Pattern Points To Breakout On September 23, Charting Guy took to X (formerly Twitter) to unveil a new trend pattern in Shiba Inu\u2019s price chart. The chart highlighted three wave patterns and several Fibonacci retracement levels which acted as resistance and support zones for Shiba Inu\u2019s price. Related Reading: Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish In classic wave 1 and 2, Shiba Inu\u2019s price movements exhibited a series of fluctuations, followed by a brief upward momentum before sliding downwards again. Now in wave 3 which the analyst has predicted would be an explosive one, Shiba Inu has formed a historical symmetrical triangle pattern which could trigger a potential surge to new highs at $0.0.0000493, representing a 244% rally.\u00a0 Currently, Shiba Inu is trading at $0.0000143, with its next key resistance at the 0.382 Fibonacci retracement level, near $0.0000164. If the meme coin fails to surpass this resistance, the 0.236 Fibonacci retracement level at $0.000011 could provide strong support.\u00a0 In contrast, if Shiba Inu exceeds resistance levels at $0.0000164, the cryptocurrency could see its price breakout to $0.0000226. More resistance can also be seen at Fibonacci retracement levels around 0.618 and 0.702, representing the $0.0000312 and $0.0000392 price marks, respectively.\u00a0 If Shiba Inu can successfully break out of these key levels, the cryptocurrency would experience an explosive surge to $0.0000493, a price level well above its previous March high of around $0.000045.\u00a0 Interestingly, this price level is not the highest Shiba Inu can reach based on its symmetrical triangle pattern. According to the Charting Guy, if SHIB can break above the 0.888 Fibonacci retracement level at $0.0000651, the meme coin could potentially skyrocket to new all-time highs at $0.0000884, corresponding to the 1 Fibonacci retracement level and marking a massive rally of approximately 518%.\u00a0 However, in the event that Shiba Inu fails to surpass this key level, it is likely to find support at the 0.786 Fibonacci retracement level of $0.00004936.\u00a0 Related Reading: Diamond Hand Ethereum Whale Moves 15,000 ETH, Here\u2019s The Destination SHIB Price Analysis Supporting the optimism surrounding Shiba Inu\u2019s future outlook, the cryptocurrency has been on a steady upward trajectory. In the past week, the price of Shiba Inu increased by an impressive 8.91%. However, it has recently retraced some of those gains, experiencing a 1.52% decline in the last 24 hours.\u00a0 Earlier in March, Shiba Inu witnessed a significant rally, positioning it as one of the top gainers. According to data from CoinMarketCap, the cryptocurrency has seen a staggering 95.65% price increase since the start of 2024.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":644270,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[167,6664,26263,14690,83668,89178,84473,83667,89157,86437,84562,84558],"class_list":["post-644249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Symmetrical Triangle Pattern Reappears, Why A 200% Rally Is 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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