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Shiba Inu prices are on the cusp of a 42 percent surge as SHIB bulls prepare for a spectacular breakout.
Shiba Inu price is preparing for a large increase as the token approaches a major region of resistance.
If SHIB rises beyond $0.00003902, the dog-themed currency might rise by 42 percent.
However, Shiba Inu may encounter several challenges in the future.
Shiba Inu prices are poised for a substantial rise as they approach a critical line of resistance. If SHIB rises beyond $0.00003902, the canine-themed cryptocurrency might rise 42 percent.
Shiba Inu prices are expected to reach $0.00005435 in the near future.
On the daily chart, the Shiba Inu price has formed a falling parallel channel, indicating an overall negative view. However, because SHIB is approaching the upper border of the ruling technical pattern, the token might be on track for a 42 percent rally to the November 30 high of $0.00005435.
The initial place of resistance for Shiba Inu price is at the parallel channel’s topside trend line, which coincides with the 38.2 percent Fibonacci retracement level at $0.00003902. The dog-themed coin will only reach the bullish goal if SHIB manages to break above the aforementioned headwind.
