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    Shiba Inu price forecast: Potential 90% increase driven by technical patterns, strategic shift from Dogecoin, and new blockchain hub initiative

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    HI All hail the Shiba Rise of Dogecoin pretenders fueled by meme frenzy, crown, king, Shiba Inu (SHIB), Japanese dog breed, Dog meme coins

    30s Summary

    Shiba Inu (SHIB) price is expected to increase by 90% due to several factors including a brewing “cup-and-handle” trading pattern and a possible shift of investments from Dogecoin (DOGE) to SHIB. The Shiba Inu community is also considering setting up a Blockchain and Innovation Strategic Hub (S.H.I.B.) in the United States, and the potential support from the Trump administration could further boost SHIB’s price. However, the risks involved in crypto investments must be factored in.

    Full Article

    Year-to-date, Shiba Inu (SHIB) has skyrocketed over 78.50%, hitting $0.0000191 on Nov. 8. However, it’s not doing as well as other top meme coins like Dogecoin (DOGE) and Pepe (PEPE) which have shot up by more than 115% and 668% in the same timeframe.

    Now, there’s speculation that SHIB could be heading towards its 2024 highs thanks to a combination of tech stuff and fractal indicators.

    Could a 90% SHIB price spike be on the horizon?

    One of the first big signs that SHIB’s price could spike comes from a brewing “cup-and-handle” pattern. Don’t worry, it’s not about tea! It’s actually a sign in trading that prices could jump up. Imagine the pattern like a teacup followed by a smaller, downwards drifting handle.

    As of Nov. 8, Shiba Inu was in the ‘handle’ stage of this pattern. We’re now waiting for a breakout move over the common resistance around $0.00002032.

    A confirmed breakout could send Shiba Inu towards a target around $0.00003545. That’s an increase of 90% from the current price and would bring SHIB closer to its 2024 highs.

    Money shift from DOGE to SHIB?

    Shiba Inu has lagged behind Dogecoin mainly due to Elon Musk constantly promoting it. But as of Nov.8, Dogecoin’s daily strength index (called RSI in trading lingo) was above 70. That’s considered “overbought,” which might mean Dogecoin’s price could fall.

    On the other hand, SHIB’s daily RSI was around 58.42—a neutral area— suggesting its price has more room to grow. If DOGE’s recent rally cools down and people decide to take profits, parking their money in SHIB, it could kickstart a SHIB rally.

    Bulls for SHIB!

    The positive outlook for SHIB is supported by its historical rebound pattern, where similar technical setups have led to 30% to 150% rallies.

    The current conditions, with an oversold RSI and a key support area, suggest the possibility of another strong SHIB/DOGE recovery. If this happens, a 30% gain could be on the horizon, which in turn supports the potential 90% jump in the SHIB/USD analysis.

    Shiba Inu rides on Trump’s second term?

    The Shiba Inu community has floated the idea of setting up a Blockchain and Innovation Strategic Hub (S.H.I.B.) in a US city, aiming to make it a global hotspot for blockchain tech and sustainable development.

    Donald Trump’s administration is generally positive towards economic growth initiatives, deregulation, and public-private partnerships, which could add momentum to blockchain development and hubs like S.H.I.B. This could potentially boost the SHIB price, as it might attract more speculators.

    But remember, investing in cryptos is no joke. They carry their own real risks and it’s important to do solid research before making financial decisions. Adventure wisely, folks!

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