$SHIB Bull Run: Shiba Inu's Technical Indicators Point to Major Gains
Shiba Inu ($SHIB) is making a strong comeback in the market, backed by technical indicators that suggest a bullish trend. The asset's weekly chart shows a rare 'bullish combo' formed by an extended accumulation phase and a strong bullish divergence in the RSI. This combination indicates that selling pressure has been exhausted, with the $0.0000053-$0.0000055 zone serving as a firm floor for buyers.
The current market capitalization of $3.47 billion is significantly lower than its peak in November 2024, but this time around, the asset's reversal structure appears to be stronger. This could potentially pave the way for a significant rally, with two strategic targets set at the 50-week MA and the 200-week MA.
If the predicted growth materializes, it would take $SHIB out of the Top 30 market capitalization range, moving it into the 16th-17th spot. This would also put it on track to overtake heavyweight tokens like Litecoin ($5.46 billion), Uniswap ($5.64 billion), and NEAR Protocol ($6.34 billion).
However, a local low of $0.00000515 marks the level that could invalidate this scenario, highlighting the importance of careful monitoring.