With over 78% year-to-date growth, the Shiba Inu token (SHIB) saw a notable rise to $0.0000191 on November 8. SHIB currently looks promising for future upside, although it lags behind other major coins like Pepe and Dogecoin. (DOGE). With its price currently experiencing a significant increase, this could continue, leading to a breakout soon. Here’s a breakdown of price patterns signaling possible major gains.
Cup and Handle Model: Potential 90% SHIB Price Rise Ahead
One of the main indicators suggesting a rally in SHIB is the cup and handle pattern that forms on the price chart. This pattern usually begins with a cup shape, where prices first fall and then recover, followed by a small decline or handle before a breakout. As of November 8, SHIB was at the handle level, just below the $0.00002032 resistance level. If it exceeds this level, SHIB could reach an estimated target of $0.00003545, potentially gaining around 90% by early 2025.
Capital rotation from Dogecoin to Shiba Inu
This year hasn’t been very good for Shiba Inu compared to Dogecoin, mainly because Elon Musk and others have shown interest in DOGE lately. On one hand, the Dogecoin Relative Strength Index has recently crossed into overvalued territory. This could cause investors to take profits. SHIB RSI is more balanced, so it has growth potential. If funds move from DOGE to SHIB, it could trigger a SHIB rally. This is more likely given the oversold conditions of the SHIB/DOGE trading pair, which portend a possible price recovery.
Decreasing Widening Wedge Model
Analysts such as Alex Clay point out that SHIB recently completed a descending widening wedge pattern. This pattern typically involves diverging downtrend lines, which often causes a bullish reversal. Crossing the crucial $0.000018 level opened the door for more gains, with the first target being $0.00003710. SHIB could rally towards $0.00005685, depending on the Fibonacci retracement levels. These levels define typical profit-taking zones and are important areas to watch for any price adjustments.
The falling wedge pattern: bullish trend confirmed
The falling wedge pattern also suggests that Shiba Inu is on an uptrend. This trend appears when price consolidates within two descending trendlines that eventually narrow. SHIB recently confirmed its uptrend by breaking the upper trendline. From the oversold zone, the Relative Strength Index (RSI) has also entered a recovery phase which could help sustain an uptrend towards a target price of $0.000081.
Will Shiba Inu (SHIB) break out soon?
Several price patterns indicate a potential breakout for Shiba Inu. So, it is very likely that SHIB will witness a rally that will result in a massive breakout of the token. However, investors should monitor market movements.
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Rexas Finance (RXS): an Altcoin to share the stage with Shiba Inu
Meanwhile, Rexas Finance (RXS) is generating buzz in the crypto space with its creative approach to investing in real-world assets (RWA). Launched with a clear purpose, Rexas Finance allows investors to purchase fractional tokens that represent real-world assets. This approach attracted a lot of interest, especially during the presale, where the value of the tokens increased from $0.03 initially to $0.07, meaning an increase of over 100%. Now in the fifth stage of its presale, Rexas Finance has already sold more than 117 million tokens, or around 77% of the current phase. In one week, nearly $6 million was raised, demonstrating the enthusiasm for this project. In stage 6, the token price will reach $0.08, with an expected final launch price of $0.20. Many investors are eager to secure their positions as soon as possible, expecting substantial gains after launch. The decision to list Rexas Finance on CoinMarketCap and CoinGecko also boosted confidence, allowing investors to track its performance live.
The particularity of Rexas Finance lies in its ability to democratize access to the RWA market. Traditionally, this market has been dominated by large investors and institutions due to the high barrier to entry caused by the high value of RWA assets. Rexas Finance wants to remove these obstacles using blockchain technology so that everyone can invest in fractions of these assets. This creates new opportunities for a wider range of investors, from beginners to experienced traders. THE Rexas Finance The ecosystem includes several tools designed to make investing simple and accessible. For example, Rexas Token Builder streamlines the asset tokenization process, while the Rexas QuickMint Bot allows users to easily create tokens from a smartphone or computer. Rexas Finance is expected to launch on at least three major exchanges, giving the RXS token a platform for potential global growth. With its accessible tools and ambitious goals, Rexas Finance appears well-positioned for success, providing investors with a promising opportunity in the evolving world of digital assets.
Conclusion
The current Shiba Inu price trend is very bullish and could soon see a significant breakout. Rexas Finance, a new cryptocurrency, also promises a massive rise after its launch. The project has attracted widespread attention thanks to its ambitious RWA tokenization goals. Analysts have predicted considerable gains after its symbolic launch, making it an attractive opportunity for investors in 2024.
About Rexas Finance:-
Website: https://rexas.com
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