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Shiba Inu eyes 'much wow' 90% breakout as SHIB price paints a textbook bull pattern

Published 10/18/2021, 10:03 AM
Updated 10/18/2021, 11:40 AM

The Shiba Inu (SHIB) market is in a very strong bull market in 2021, and one major continuation pattern on its longer timeframe charts highlights the scope for an additional 90% upside move ahead.

In detail, SHIB rose over 1,250% year-to-date (YTD) to establish the yearly high at $0.00003528 (data from Binance) on Oct. 8. Later, the cryptocurrency cracked under the profit-taking sentiment, leading to a 41.50% price correction to $0.00002060.

SHIB/USDT 12-hour price chart featuring Bull Pennant setup. Source: TradingView
ShibaSwap TVL as of Oct 18, 2021. Source: Defi Llama
Shiba Inu whale transactions exceeding $100K. Source: Santiment

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