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Shiba Inu still aims for 75% upswing after touching its new all-time high

SHIB bulls have already managed to blow buyers’ expectations with an almost 400% upward rally towards $0.000143.

New Delhi: Self-claimed DOGE killer Shiba Inu has proved itself by taking over Elon Musk’s favorite cryptocurrency Dogecoin. SHIB went ahead of DOGE in terms of the total market capitalisation when it touched its new all-time high.

SHIB had an unbelievable and explosive upward rally of over 200% after breaking through the technical pattern. Even after touching its new all-time high of $0.00008825, Shiba is still continuing to target bigger goals and the prevailing chart pattern also suggests that. As the analysts say that ‘the bull run is not over yet.’

Shiba Inu went on to record its new high after breaking the resistance trend line. The suggestive target given by the prevailing chart pattern is an 80% upward climb from here.

Shiba Inu can rise by 50% if it can beat this pivotal resistance

However, SHIB bulls have already managed to blow buyers’ expectations with an almost 400% upward rally towards $0.000143.

As per experts, SHIB has hit only half of its expected bull run as it has only surged 200% from the upper line of the bull pennant. If bulls continue to utilize the momentum to move higher then the next target will be the 127.2% Fibonacci extension level at $0.00010617 before it touches its next target of $0.00010617

Traders have to keep in mind that SHIB’s price is overbought which will eventually result in the price correction. The Arms Index (TRIN) suggests that the traders are engaged more in the selling activities as they are looking to book profits from this upward run.

Shiba Inu -

Following this development, Shiba Inu will consolidate until a massive buying pressure tries to break it. SHIB will eventually find support at the price level of $0.00007448 if it decreases any further then it will find another support at $0.00006352.

Invalidating the bull run scenario, a major selling pressure can drop the coin to the lower levels at $0.00004813 and $0.00003861, respectively.