Shiba Inu Down 20% On The Week, But: These 'Proven Milestones' Could Lead To 'Massive Bull Market,' Touts Trader
Portfolio Pulse from Khyathi Dalal
Shiba Inu (CRYPTO: SHIB) has seen a 20% decrease over the week, yet analysts, including Yomi, predict a bullish future due to significant technical indicators and a surge in daily transactions and burn rate. Key indicators include a bullish monthly cross on the AZO momentum indicator and a potential cross of the Monthly MACD zero line. Additionally, a 489.9% increase in the burn rate and a doubling of daily transactions signal strong community engagement and potential for growth.
April 16, 2024 | 3:26 pm
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POSITIVE IMPACT
Shiba Inu (SHIB) is poised for potential growth despite a recent 20% market correction, driven by positive technical indicators and increased community engagement.
The optimism for Shiba Inu's future growth is based on technical analysis by Yomi, including a bullish monthly cross on the AZO momentum indicator and the potential crossing of the Monthly MACD zero line. Additionally, a significant increase in the coin's burn rate and daily transactions suggests a growing community engagement and utility, which could drive demand and price up in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100