With over 78% year-to-date growth, the Shiba Inu (SHIB) token saw a noteworthy rise to $0.0000191 on November 8. SHIB currently shows promise for a future increase even though it has lagged behind other prominent meme coins like Pepe and Dogecoin (DOGE). With its price currently seeing a significant increase, it could continue, leading to a breakout soon. Here’s a breakdown of the price patterns signaling possible major gains.
Cup and Handle Pattern: A Potential 90% SHIB Price Surge Ahead
One of the main indicators suggesting a SHIB rally is the cup and handle pattern forming on the price chart. This pattern typically starts with a cup shape, where prices first dip and then recover, followed by a small dip or handle before a breakout. As of November 8, SHIB is at the handle mark, just below the resistance level of $0.00002032. If it breaks 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 too great For Shiba Inu compared to Dogecoin mainly because Elon Musk and others have been showing interest in DOGE lately. On a side, Dogecoins’ relative strength index has recently moved past the overvalued territory. This might lead to investors taking their profits. SHIB RSI is more balanced, so it has the potential to grow. Should funds move from DOGE to SHIB, it might spark a SHIB rally. This is more likely given the oversold conditions of the SHIB/DOGE trading pair, which point to a possible price recovery.
Descending Broadening Wedge Pattern
Analysts such as Alex Clay point out that SHIB has lately completed a descending broadening wedge pattern. This pattern usually involves diverging downward trend lines, which often causes a bullish reversal. Breaking above the crucial level of $0.000018 has opened the door for more gains, with the first target at $0.00003710. SHIB may rally as high as $0.00005685, depending on Fibonacci retracement levels. These levels define typical profit-taking zones and are important areas to monitor for any pricing adjustments.
The Falling Wedge Pattern: Confirmed Bullish Trend
The falling wedge pattern also suggests that Shiba Inu is on a bullish trend. This pattern appears when the price consolidates within two downward-sloping trend lines that eventually narrow. SHIB recently confirmed its upward trend by breaking the upper trend line. From the oversold area, the Relative Strength Index (RSI) has also entered a recovery phase that might help sustain an upward trend toward a target price of $0.000081.
Will Shiba Inu (SHIB) Break Out Soon?
Several price patterns point to a potential breakout for Shiba Inu. So, it’s very likely that SHIB will witness a rally that will lead to a massive breakout for the token. However, investors should keep watch for movements in the market.
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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 real-world asset (RWA) investment. Launched with a clear goal, Rexas Finance lets investors buy fractionalized tokens that represent real-world assets. This approach has drawn a lot of interest, particularly during its presale, where token values jumped from an initial $0.03 to $0.07, signifying a more than 100% rise. Now in the fifth stage of its presale, Rexas Finance has already sold over 117 million tokens, amounting to roughly 77% of the current phase. Within a week, it raised nearly $6 million, underscoring the enthusiasm around this project. At stage 6, the token price will rise to $0.08, with a planned final launch price of $0.20. Many investors are eager to secure their positions early, anticipating substantial post-launch gains. The decision to list Rexas Finance on CoinMarketCap and CoinGecko has also boosted confidence, allowing investors to track its performance live.
Rexas Finance’s unique point lies in its ability to democratize access to the RWA market. Traditionally, this market was dominated by large investors and institutions due to the high entry barrier caused by the high value of RWA assets. Rexas Finance wants to remove these obstacles by using blockchain technology so anyone can invest in fractions of these assets. This creates new opportunities for a larger spectrum of investors, from novice traders to experienced ones. The Rexas Finance ecosystem includes several tools designed to make investing simple and accessible. For instance, the Rexas Token Builder streamlines the asset tokenization process, while the Rexas QuickMint Bot allows users to create tokens conveniently from a smartphone or computer. Rexas Finance is set 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, offering investors a promising opportunity in the evolving world of digital assets.
Conclusion
Shiba Inu’s current price pattern is highly bullish, and it could see a significant breakout soon. Rexas Finance, a new cryptocurrency, also promises massive upside post-launch. The project has attracted widespread attention thanks to its lofty goals for RWA tokenization. Analysts have predicted wild gains following its token launch, making it an attractive opportunity for investors in 2024.
About Rexas Finance :-
Website: https://rexas.com
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