Shiba Inu Sees Surge in Large Transactions: Is a Breakout Imminent?
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Symmetrical Triangle Pattern Suggests Imminent Breakout
The spike in large SHIB transactions comes as the token's price forms a symmetrical triangle pattern. This technical pattern typically precedes a breakout in either direction as volatility tightens. The closer the price moves toward the tip of the triangle, the more trading volume tends to shrink, signaling that a major move could be on the horizon.
While the symmetrical triangle doesn’t favor a specific direction, the uptick in large transactions could indicate bullish sentiment. However, caution is still advised, as breakouts can occur in either direction, depending on market momentum and external factors.
What’s Next for SHIB?
With increased whale interest and a narrowing price pattern, SHIB holders should closely monitor market developments for a potential breakout. Whether this leads to a price surge or a decline remains to be seen, but current indicators suggest heightened volatility ahead.