SHIBA INU (SHIB) TOP MEME COIN shows strong strength as the identified double floor pattern and open interest increase.
February 23 SHIBA INU (SHIB) Price prediction
Following BYBIT’s $ 1.4 billion Crypto Heist, the entire Cryptocurrency market seems to be recovering after a notable price drop. The popular and second largest meme coin, SHIBA INU (SHIB), is preparing for significant upward driving force due to optimistic price behavior patterns for a day.
SHIBA INU (SHIB) Technology Analysis
According to expert technology analysis, SHIB seems to be strong because the daily chart forms an optimistic double floor price behavior pattern. In addition, technical indicators flash optimistic radiation and represent potential ascension.
By further strengthening this outlook, the meme coin also formed an optimistic candlestick pattern to strengthen the potential of strength.
Shib price prediction
Based on recent price behavior and historical patterns, if the meme coin closes the candle daily with more than $ 0.00001565, it can increase 30% to reach the $ 0.000020 level.
During the rally, MEME COIN first increased 10% to check the double floor pattern. If this pattern is violated, the MEME COIN can continue the upward momentum to increase the $ 0.000020 level.
Despite the outlook of this strength, memes coins are lower than the 200 index moving average (EMA) over the daily period, indicating that assets are still in a decline.
Current price momentum
Shib is currently trading near $ 0.00001565 and has surged more than 5.10% over the last 24 hours. However, during the same period, trading volume decreased by 32%, indicating that the participation of traders and investors was lower than the previous day.
Mixed and warm metrics
With this strong price behavior, the emotions between merchants and long -term investors appear to be different. According to CoingLass’s data, traders seem to be using price momentum, so they increased their long positions and increased 6% in Mime Coin’s public interests.
Meanwhile, long -term holders are abandoning their shares. According to the data, the exchange represents potential selling in the last 24 hours, seeing the inflow of $ 1.2 million in memes.
By combining all these metrics with technical analysis, Bulls currently dominates assets and Mime Coin can soon surge.