• Shiba INU (SHIB) has seen a significant upswing, pushing the price beyond $0.000009.
• Bulls are trying to push the SHIB price higher, as Bitcoin prices display notable strength.
• Indicators are signaling a potential upswing of over 110%, due to the formation of an ‚Adam & Eve‘ double bottom pattern.
Shiba INU (SHIB) has been one of the top performing cryptocurrencies in recent weeks, as the price has seen a notable upswing since the start of the year. After reaching a low of $0.00000778 in November 2022 due to the collapse of FTX, the SHIB price has slowly been rising, while the bears are still trying to squeeze the price. Despite this, the SHIB price is currently trading at around $0.000009137 with a 24hr jump of 2.55%, and more indicators are signaling a potential upswing of over 110%.
The recent bullish sentiment in the crypto market is largely attributed to the surge in Bitcoin prices, which have been displaying significant strength. This has been further bolstered by the formation of an ‚Adam & Eve‘ double bottom pattern, which is usually seen as a bullish sign. This pattern is formed when a security tests the same support twice and then breaks out, indicating a reversal of the downward trend.
In addition, the Bollinger Bands have also been displaying a bullish sign, as they experienced a squeeze during the first few days of 2023 before exploding towards the north. This suggests strong buying pressure in the market, which could cause SHIB to break the $0.00001 mark in the coming days.
As the crypto market continues to heat up, Shiba INU has also been garnering attention from investors. With bullish market sentiments and strong indicators signaling a major upswing, it is highly likely that SHIB could enter the top 10 cryptocurrencies soon, making it an attractive investment opportunity.