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Shiba Inu clears $0.0000125 resistance but is the token a buy?

Shiba Inu clears $0.0000125 resistance but is the token a buy?

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  • The Shiba Inu mark has risen above the key resistance

  • The price has increased in the last week

  • The Shiba Inu team teased the Metaverse WAGMI temple last weekend

Shiba Inu SHIB/USD is witnessing increased buying pressure. At press time, trading volume for the meme token increased by 102% in the last 24 hours. This despite the fact that the price has cooled by 4% since the most recent gains. Bulls could take a break after SHIB broke the $0.0000125 resistance.

Once again, welcome to the Shiba Inu metaverse – a project expected to take SHIB to the moon. On September 3rd, Shiba Inu teased fans with the Metaverse WAGMI Temple, a parody of its virtual reality. The “Zen-like” universe has natural beauty and experiences. It also enables spiritual connections with the outside world, says the Shiba Inu blog.

There is a lot of excitement that the Shiba Inu metaverse is a true evolution. It marks the beginning of its steps to remove the meme tag using the real utilities of the original tag. The WAGMI temple illustration reignited the hopes of a metaverse dream.

Shiba Inu price and forecast

It is too early to say that the virtual reality image increased the price of SHIB. However, we know how much small news can affect SHIB’s price. The technical points already show that the breakthrough has taken place.

Source – TradingView

SHIB’s technical outlook shows that the key resistor is broken. The token is trading at $0.000013, just above the breakout zone. The price has also crossed the 20-day and 50-day MA. The MACD indicator is also turning upward. What next?

Final thoughts

A break above $0.0000125 will build a bullish case for SHIB. However, the fracture has been followed by the formation of tail bars. It describes the exhaustion of the bull. The likely price behavior is consolidation. Watch out for bullish signals.

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