Pattern Recognition
Crypto analyst Moataz Elsayed has noticed a repeating pattern in Shiba Inu’s (SHIB) price history. After a surge following its listing on Binance in 2021, SHIB experienced a correction and then a breakout.
Historical Data
In May 2021, SHIB rose to $0.00005 after being listed on Binance. After a correction, it broke out in October 2021, reaching $0.00008854.
Repeating History
Elsayed believes this pattern is repeating itself. After a long period below $0.00001, SHIB surged over 370% in March 2023.
Predicted Surge
Based on this pattern, Elsayed predicts that SHIB could surge to $0.0002404, a potential increase of 1,100%.
Technical Analysis
Currently, SHIB is in a consolidation phase. It broke out of a triangle pattern but failed to sustain above $0.00002883. If it falls below $0.00002326, it could decline further.
