Shiba Inu jumps 30%; aims for 125% uptrend after breakout

New Delhi: Self-claimed DOGEKILLER Shiba Inu has been on a downtrend recently as SHIB bulls failed to protect the investor’s interest and enthusiasm. As per experts, Shiba Inu has dropped 60% in value since its October All-Time High and it is also being observed that SHIB has also lost its social media interest by 29% in the last week.

SHIB went on to hit the November low on Friday as the global markets entered panic mode on the other hand investors saw some good buying opportunities. During the weekend, things changed as sentiments started to allure, investors began to return buy SHIB. An increase in buy volume in the price can be seen from this weekend.

Shiba faced the first test at the price level of $0.00004465 and bulls showed their strength.

Meanwhile, Leading cryptocurrency exchange Kraken announced that it will list the Shiba Inu coin on November 30. Kraken has already begun accepting deposits for the coin. The platform will enable token trading pairs against Euro and US dollar with a minimum order of 50,000 SHIB coins.

SHIB looks for 42% uptrend

Shiba Inu breakthrough above a critical price barrier and from here it looks like a 42% upward trend. As per experts, the 12-hour chart depicts that SHIB is forming a falling wedge pattern which suggests a bullish outlook for the coin. The trend suggests a move of 42% jump targeting to hit $0.00006363 price level.

SHIB broke the upper boundary of the governing technical pattern and the next obstacle for the coin will be at the 100 twelve-hour Simple Moving Average at $0.00004603 and then at $0.00004819. Shiba Inu can reclaim a 50% retracement level at $0.00005591 before the bullish target.