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Shiba Inu’s Open Interest Spikes 13%, Analyst Foresees 500% Rally Coinpedia 17 aug. 2024

Shiba Inu’s Open Interest Spikes 13%, Analyst Foresees 500% Rally 🚀

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.

Bron: coinpedia.org ↗

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