The Shiba Inu Price, the second biggest meme coin with a market cap of $5.36 billion, is gearing up for a bullish breakout in February. As the market recovery expectations run high this month, altcoins, especially meme coins, are preparing for a potential bull run.
Currently, the SHIB price is experiencing a downtrend in a falling wedge pattern, testing the bottom support at the $0.0000090 mark. With such volatility and bearish movement in the daily chart, we have turned to ChatGPT to predict the potential uptrend gains and a bullish breakout.
At present, the SHIB price is trading at $0.00000910, displaying a slight but positive move during the day. Furthermore, the reversal from the 200-day EMA (Exponential Moving Average) suggests the formation of a morning star pattern, which solidifies the point of reversal.
The bullish reversal from the 200-day EMA has the potential to break the falling wedge pattern, igniting a significant rally in the market. Additionally, the declining trend in intraday trading volume during the pullback phase increases the likelihood of a breakout.
According to ChatGPT’s analysis, the anticipated breakout rally could drive a bull run pushing the SHIB price to target $0.00002105 by February 2024.
However, a plunge below the $0.0000090 level would bring about a change in the price dynamics and potentially lead to a bearish turnaround.
It’s important to note that cryptocurrency predictions are subject to market volatility and can be influenced by various factors. Investors should always exercise caution and consider multiple perspectives before making any investment decisions.
Source: [Chatgpt Predicts Shiba Inu Price To Surge 130% in February](insert source link here)
