Is Shiba Inu about to break out? The meme coin could be on the cusp of a price rally, despite its monthly performance showing a 21.84% decline. Like Ethereum, Shiba Inu prices also sank on 20 December, when it hit a low of $0.000019. In the last seven days, Shiba Ibu prices have begun to stage a recovery, with a 15.27% increase. There’s also been a surge in trading activity on Binance.
With Shiba Inu now trading around $0.000024the question is – are we seeing the begin whispers of a breakout?
Some analysts speculate that Shiba Inu prices are forming a cup-and-handle pattern, which would suggest that a definitive shift higher is on the cards. The last 12 months have seen the meme coin gain149.90%. If that momentum continues as the political and economical environment becomes more favourable, it could easily hit a new price high in the coming months.
Shiba Inu could see a new challenger blocking its path towards the much talked about $1 target.1FUEL is shaping up to be the best cryptocurrency to buy in 2025 thanks to its viral presale and huge level of investor attention.