The meme-inspired cryptocurrency Shiba Inu (SHIB) has seen a remarkable resurgence over the past week, with the price hitting new 2-month highs. SHIB has increased 19% over the last 7 days and has spent 7 of the last 8 days trading in the green.
Keypoints
- SHIB price increased 24% from its October 21 low and rebounded after validating key support.
- TD Sequential indicator flashed a major bullish signal for SHIB, which has preceded big surges of 118% and 71% in the past.
- If the bullish signal holds true, SHIB could potentially climb as high as 125% from current levels to $0.000018.
- For a full bullish breakout, SHIB needs to break past descending resistance at $0.0000092.
- Profitable SHIB addresses increased from 3% to 20% amid the positive price action.
According to data from IntoTheBlock, the total number of SHIB addresses has now reached an all-time high of 3.63 million, pointing to growing adoption and interest in the…
