Shiba Inu (SHIB) has ignited excitement among crypto enthusiasts as it displays the potential for a substantial bullish surge. Market analyst Ali (@ali_charts) recently uncovered compelling evidence in the form of a TD Sequential setup, suggesting that Shiba Inu could be on the verge of another impressive rally. He shared this info on X, with charts to back it up.
SHIB has been on the rise, trading at 0.000007882, up 6.42% in 24 hours and 16.38% in the past week. With the TD Sequential indicator forming, SHIB could experience a massive surge soon, according to Ali Martinez.
#ShibaInu | The TD Sequential flashed a buy signal on $SHIB weekly chart. Notably, the previous two bullish turns from this indicator led to price surges of 118% and 71%, respectively.
Given the infrequency yet precision of such signals, it's a pivotal moment to keep a keen eye… pic.twitter.com/uwdWbSWFZw
— Ali (@ali_charts) October 25, 2023
Read Also: Top Shiba Inu Influencer Explains Why SHIB Price Is Not Rising Despite Upcoming Shibarium Launch
An Analysis of the TD Sequential Indicator
Ali’s analysis reveals that Shiba Inu reached a low of $0.0000063 recently, a point at which the TD Sequential setup became visible. Ali points out that this occurrence has often come before remarkable SHIB rallies.
The analyst highlights previous surges of 118% and 71%. He says, “Notably, the previous two bullish turns from this indicator led to price surges of 118% and 71%, respectively.”
Ali adds, “Given the infrequency yet precision of such signals, it’s a pivotal moment to keep a keen eye on #SHIB.” He said this formation is rare, urging traders to watch SHIB over the next few days.
SHIB’s Strength
SHIB’s price reflects the general market direction. With Bitcoin’s sudden upward turn, the rest of the market has begun to catch up. This surge also shows the strength of the popular meme coin.
One of the most noteworthy features setting SHIB apart is its deflationary design. Through a strategic burn mechanism, millions of SHIB tokens are systematically sent to dead wallets every week.
This deflationary approach distinguishes Shiba Inu and serves as a blueprint for other meme coins operating in the same ecosystem. However, data from Shibburn shows a drop in the burn rate over the last 24 hours.
The burn rate is down 0.97%, with over 26.7 million SHIB burned in 24 hours. Token burns brought a SHIB surge recently, but with reduced token burning, this surge could be coming from something else.
Shibarium is also an interesting addition to the SHIB ecosystem. The increased efficiency and lower transaction fees have made a difference for SHIB enthusiasts and traders.
The Shiba Inu ecosystem continues to showcase innovation and a strong commitment to progress, solidifying its position as a notable player among meme coins. With SHIB already on the rise, here’s what Google Bard has to say about SHIB’s price for 2025, 2030, and 2050.
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