The Shiba Inu (SHIB) rally continues with another impressive push of over 20% today.
SHIB has actually defied all expectations and has doubled yet once again in about a week’s time. This shows that the appeal of meme coins exceeds numerous basic arguments in the altcoin market. The Shiba Inu chart is clear, cost is increasing in a parabolic style with possible resistance at the next Fibonacci level as shown by the chart. On the other hand, the area around $0.000042 appears to be a great candidate for support.
Whenever coins remain in a parabolic move, the support and resistance lines can change very rapidly, especially when coins like SHIB remain in cost discovery. Market forces need to find a brand-new balance to specify the assistance and resistance levels which can take a number of efforts, suggesting that high volatility is to be anticipated.