Shiba Inu Price Prediction: Is SHIB Primed for a 100% Price Rally?
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SHIB price surged by nearly 20% over the past 24 hours, now trading at $0.00001900.
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Shiba Inu, the second-largest meme token, experienced a strong rally to $0.000017, fueled by a 1,522% spike in Shibarium fees, which surged from 27 to 438.
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SHIB successfully broke above the descending parallel channel after facing rejection near yearly highs.
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A long bullish candle formed after this breakout, indicating a strong return of bullish momentum.
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The price action completed a double-bottom pattern, moving past the neckline at $0.000016, marking the highest swing since August 24.
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Bulls could face resistance near the 200-day Moving Average and the key psychological level of $0.0000200.
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If bulls manage to push SHIB past $0.000020, it may lead to a further 100% rally in the coming weeks.
