 
 
As altcoins begin to trade sideways, causing market players to panic, a bullish chart pattern is validating a positive outcome for the Shiba Inu (SHIB) memecoin. The chart signals a potential upward rally that could kick off in the near term, and highlights the possibility for the altcoin to rally to unprecedented price levels.
Analyst Javon Marks revisited a bullish chart pattern observation earlier in the year, which revealed that Shiba Inu has confirmed an apparent bullish divergence with its MACD. The move pointed to an early 180% upside for prices to return to the $0.000032 price mark, which could signal the start of a larger upward price reversal.
On August 6, the analyst referenced the previous chart pattern, stating that SHIB is still fresh off the divergence level confirmed earlier in the year. As such, prices might soar as the chart pattern continues in a bullish trajectory.
With the divergence in play, the price of Shiba could skyrocket by more than 156% to hit a price mark of $0.000032, the analyst added. The analyst added that the move could be the start of a larger price run.
The analyst’s bullish revelation comes not long after another market participant informed SHIB investors of a potential price breakout.
 
On August 4, pseudonymous analyst Army Shiba took to X to share that Shiba Inu had broken out of a falling wedge. This development is notably regarded as a classic reversal pattern, the analyst added.
Following the breakout, as the analyst observed, the memecoin is now pushing above resistance levels at $0.00001242. Should the asset sustain this bullish momentum, the analyst disclosed that $0.00001400 and $0.00001600 is the following key target.
At report time, SHIB is trading at $0.00001339 with gains from the past 7 days going up to 9.74%.
Source: https://zycrypto.com/shiba-inu-primed-for-156-explosion-to-new-highs-as-market-expert-lays-out-expected-shib-outcome/