2024-08-15 01:40:15 +0300

Shiba Inu eyes 50% rally as SHIB price enters 'cup-and-handle' breakout mode

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Shiba Inu (SHIB) broke out of its prevailing cup-and-handle pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks.

A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level.

SHIB/USD daily price chart. Source: TradingViewShiba Inu burn rate. Source: Shibburn.comSHIB/USD daily price chart. Source: TradingView

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