Technical analysis by Coinpedia-Market-Insight about Symbol SHIB: Buy recommendation (10/30/2024)

Recent Surge: SHIB has gained nearly 20% from its weekly low of $0.00001583. Golden Crossover Potential: The convergence of the 50-day and 200-day SMA indicates a likely golden crossover, supporting a bullish outlook. Double Bottom Formation: A double bottom reversal at the 23.60% Fibonacci level ($0.00001633) reinforces the uptrend. Fibonacci Targets: The immediate target is the 50% Fibonacci level at $0.00002144, with further potential toward $0.00003591. Broader Market Influence: Bullish sentiment in the broader market recovery could further fuel SHIB’s climb.