Shiba Inu Is Likely to Continue Up
Shiba Inu (SHIB) is down 4.2% this week, trading at $0.0000170, underperforming the broader market where Bitcoin (BTC) has shed only 1.8% to $61,120. This decline comes after a strong 58% rally in September, characteristic of the coin's elevated volatility, which can be attractive for traders.
Currently, SHIB is trading near trend support, making it an interesting level to consider long trades, with a potential 27% upside toward $0.0000200. The project shows strength, backed by rising network activity and increased whale accumulation. Additionally, the accelerating SHIB incineration process is pushing prices higher. If the broader crypto market maintains positive momentum, SHIB could surpass its primary target and continue its upward trend.
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