The popular meme token SHIB has seen a significant spike in interest over the past 10 days, with its price rallying alongside the increased attention. Currently, SHIB is resting on the 10MA, which could act as a support level and bounce off.
Technical Analysis: - The recent price action has formed a bullish flag pattern, which is a continuation pattern that typically signals a potential breakout in the direction of the previous trend. - Trading volumes have decreased significantly after the initial spike.
Risks: - SHIB is a highly volatile meme token, and its price movements can be unpredictable and influenced by social media trends.
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