- ClayBro thinks the recent breakout has opened the way for SHIB to rally to newer highs.
- SHIB settled above $0.00001 for the first time since April 2023.
- Data from IntoTheBlock showed that 230,000 wallet addresses became profitable when SHIB crossed $0.00001.
ClayBro, a crypto analyst, thinks the recent SHIB breakout has opened the way for the flagship meme coin to rally to newer highs. In a recently uploaded video, the renowned SHIB analyst identified the meme coin’s price action around $0.000011 as a significant event in the developing bull run.
Shiba Inu fell below the $0.000011 price level in April 2023 and tested it only twice without breaking above the established resistance. For nearly one year, SHIB traded sideways, with $0.000011 forming the upper limit of a horizontal channel. ClayBro noted how SHIB failed to follow Bitcoin and other cryptos to rally in the past year before embarking on the recent rally.
Analyzing the recent developments, ClayBro spotted a crucial factor supporting the continuation of SHIB’s rally. He cited data from IntoTheBlock showing 230,000 SHIB wallet addresses became profitable when SHIB crossed the $0.00001 threshold. …
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