Crypto
Shiba Inu Price Prediction: Falling Wedge Points to Explosive Move
The Shiba Inu token, $SHIB, is currently trading around $0.00000513, up modestly on the day.
It remains one of the most traded meme assets by market cap, and traders are watching closely to see where this move goes next.
A key factor in the current price action is the falling wedge pattern on the daily chart, which has formed after a sharp rally earlier this year.
The wedge's upper boundary sits just above $0.00000513, with the 200 EMA resistance at $0.00000570 serving as a critical test point for any breakout attempt.
Short sellers have taken the brunt of the pain across various timeframes, which lines up with the market's recent price action and momentum indicators.