Technical analysis by Ivan3tt about Symbol SHIB: Buy recommendation (12/10/2023)

SHIBA INU/USDT 1D. Daily chart. Middleterm trend - horizontal channel. Price is now being in the support zone of this channel. Symmetrical triangle formed. Price now broke out the resistance of this triangle. Accumulating as for now. Other memes are pumping one after another. Those coins often pump before market local correction. This one highly connected with doge, as the main memcoin. This, as the one of the most liquid, will likely pump the last(for example, now LADYS is pumping). Triangle has been forming for more then 300 days. Now broke out. Price is a bit higher than the previous accumulation zone(2021), after which there was pump. This idea is mostly for price monitoring and understanding what's happening on the coin. It's also very important as to count with enormous pump from the bottom(ain't seen on the chart).