- Shiba Inu price shows the formation of an Adam and Eve pattern that forecasts a 38% gain.
- A daily candlestick close above $0.0000329 will trigger this ascent to $0.0000454.
- If buyers fail to hold SHIB above $0.0000235, it will create a lower low and invalidate the bullish thesis.
Shiba Inu price shows an interesting bottom reversal setup that forecasts massive gains. Although the pattern is far from completion, aggressive investors can stand a chance to maximize returns on the breakout.
Also read: AMC stock heads toward fourth straight session of losses
Shiba Inu price to kick-start a move soon
Shiba Inu price action from January 5 to February 8 set up a V-shaped valley known as “Adam” and a rounded bottom formation referred to as “Eve”. The second half of the pattern aka Eve is far from completion, allowing early investors to reap more benefits.
This technical formation is a bottom reversal pattern that forecasts a 38% upswing. The target is obtained by measuring the depth of the valley and adding it to the breakout point at $0.0000329, which reveals the destination at $0.00000454.
Eager investors can start betting on this rally from the current position at $0.0000265, which would reveal a 70% gain. Moreover, the presence of the daily demand zone, extending from $0.0000235 to $0.0000255 makes the upswing for early market participants a compelling bet.
SHIB/USDT 1-day chart
While things are looking extremely optimistic for Shiba Inu price, investors need to be careful until a breakout above $0.0000329 occurs. A failure to do so could multiple the downside risk.
If buyers fail to hold SHIB above $0.0000235, it will create a lower low and invalidate the bullish thesis. In such a case, Shiba Inu price could crash 10% to retest the March 13 swing low at $0.0000211.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP chart signals 27% jump after SEC-Ripple appeals pause and $50 million settlement
Ripple (XRP) stabilized above $2.00 exemplifying a similar pattern to the largest cryptocurrency by market capitalization, Bitcoin (BTC), which holds firmly above $84,000 at the time of writing on Thursday.
Bitwise lists four crypto ETPs on London Stock Exchange
Bitwise announced on Wednesday that it had listed four of its Germany-issued crypto Exchange-Traded products (ETPs) on the London Stock Exchange. It aims to expand access to its products for Bitcoin (BTC) and Ethereum (ETH) investors and widen its footprint across European markets.
RAY sees double-digit gains as Raydium unveils new Pumpfun competitor
RAY surged 10% on Wednesday as Raydium revealed its new meme coin launchpad, LaunchLab, a potential competitor to Pump.fun — which also recently unveiled its decentralized exchange (DEX) PumpSwap.
Ethereum Price Forecast: ETH face value- accrual risks due to data availability roadmap
Ethereum (ETH) declined 1%, trading just below $1,600 in the early Asian session on Thursday, as Binance Research's latest report suggests that the data availability roadmap has been hampering its value accrual.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.