Shiba Inu (SHIB) is poised for a potential breakout, contingent on favorable conditions in the broader cryptocurrency market, according to crypto investor SHIB KNIGHT. The token recently rallied 7% to $0.00000912, surpassing a descending triangle's upper resistance. However, to confirm this breakout, SHIB must maintain its position above the resistance trendline at approximately $0.00000862. The overall crypto market has shown signs of recovery, with the total market cap increasing by over 4% to $3.24 trillion. Bitcoin led the charge, rising over 5% to an intraday high above $96,000, while Ethereum and XRP also posted gains. This renewed momentum could support SHIB's continued rise, potentially reaching SHIB KNIGHT's target of $0.00001200. However, the analyst cautions that sustained market stability is crucial for Shiba Inu's success, as it heavily relies on broader market trends.
Shiba Inu Eyes Breakout Amid Positive Crypto Market Trends
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