Shiba Inu Bull Flag Sparks Hope for Zero Removal
Shiba Inu's price chart is showing a possible continuation pattern known as a bull flag. This pattern emerges after a strong upward move followed by consolidation, often resulting in further gains. Crypto trader SHIB Knight noted that Shiba Inu 'is making Bull Flag' and suggested it may be a good chance to delete a zero in the coming days.
Shiba Inu's price was up 3.35% in the last 24 hours, reaching $0.000005162, but down 4.25% weekly. The market is currently consolidating after a short squeeze that drove prices up in the past week. Open interest (OI) has remained steady near $137.42 billion, while volume dropped nearly 14%, indicating traders are waiting for a clearer directional cue.
A decisive break above the daily MA 200 will target $0.00000553 and $0.00000575 before reaching $0.00000623. A further break above these levels may reach $0.00001017, potentially removing a zero from Shiba Inu's price tag. This development comes as the Korean premium has turned positive, indicating that Korean investors are returning to the crypto market.