An analyst has expressed a bullish outlook for Shiba Inu (SHIB), amidst ongoing challenges in the cryptocurrency market. Open interest for SHIB has surged by 13%, indicating increased investor interest and trading activity.
According to the analyst, SHIB is on the cusp of breaking out of a substantial bullish falling wedge pattern on the daily chart. This technical pattern is often associated with significant upward price movements, leading the analyst to forecast a potential 500% rally for SHIB.
This optimistic prediction has garnered attention and sparked discussions within the crypto community, as investors watch closely for signs of a breakout.
