Shiba Inu's Bull Flag Pattern Sets Stage for Zero-Erasing Rally
Shiba Inu's price has formed a bull flag pattern on its chart, which could potentially lead to it erasing a zero in the coming days. According to crypto trader SHIB Knight, this setup is often seen as a continuation signal when the price breaks through the upper boundary of the flag with strong volume.
The current price of Shiba Inu is $0.000005162, up 3.35% in the last 24 hours but down 4.25% weekly. The market is currently consolidating after a short squeeze that drove prices up in the past week, and open interest has held steady near $137.42 billion.
A break above the daily MA 200 would target $0.00000553 and $0.00000575 before reaching $0.00000623, while a decisive break above these levels could even reach $0.00001017 and remove a zero from Shiba Inu's price tag.