Shiba Inu Set for Potential Surge: Key Indicators Point to 30% Rally

Shiba Inu (SHIB) could be gearing up for a solid rally, with technical indicators pointing to potential growth. A distinct cup-and-handle pattern on SHIB's daily chart suggests the meme coin may be poised for a strong breakout. This bullish pattern, which resembles a "U" shape followed by a slight dip, often signals a continued uptrend and hints at promising upward movement.

The Money Flow Index (MFI) supports this outlook, showing increasing buying pressure—a key factor in sustaining upward momentum. The MFI is an indicator that assesses buying versus selling interest, and its recent rise hints that buyers are currently overpowering sellers, pushing SHIB’s value higher. As long as this buying pressure persists, SHIB could maintain its momentum and potentially reach new levels.

The Fibonacci retracement tool further strengthens this outlook. Fibonacci levels are used to identify potential support and resistance areas, and SHIB recently bounced off a critical level, reinforcing the potential for a 30% rally. If SHIB's price continues to rise, it may test upper resistance zones, although a failure to break through might mean a price drop. With these indicators, the setup appears favorable for continued gains, but as with any market movement, staying informed and monitoring changes in buying pressure remains essential for investors looking to gauge SHIB’s next steps.