⚓️ #SHIB is continuing its horizontal movement within the black parallel channel on the weekly chart. The technical outlook remains intact as long as it does not break outside the channel. The 200 EMA is still a strong resistance. RSI is in the neutral zone, while MACD shows a positive trend. A weekly close below the black channel could create a technical breakout. As long as there is no downward breakdown, I expect it to follow the blue line.

📌 What is SHIBA INU (SHIB)?
SHIB is an Ethereum-based meme coin created by an anonymous team in 2020. It emerged as a competitor to Dogecoin, but over time established its own ecosystem with products like ShibaSwap, BONE, and LEASH. It aims to provide faster and lower-cost transactions with its Layer-2 network called Shibarium. Vitalik Buterin made a significant contribution to the project by burning a large portion of the supply. SHIB is no longer a "joke coin"; it is a serious community project with its own DeFi infrastructure.

‼️ It is not investment advice.

#crypto # shib #altcoin # memecoin #blockchain # ethereum