{"id":175839,"date":"2023-05-23T11:39:19","date_gmt":"2023-05-23T11:39:19","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175839"},"modified":"2023-05-23T11:39:19","modified_gmt":"2023-05-23T11:39:19","slug":"shiba-inu-all-green-today-whats-the-driving-force","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/","title":{"rendered":"Shiba Inu All Green Today &#8211; What&#039;s The Driving Force?"},"content":{"rendered":"<p><span>Shiba Inu (SHIB) enthusiasts have been eagerly monitoring the cryptocurrency&#8217;s price movements as it approaches a critical juncture. After a period of consolidation, the Shiba Inu price has finally reached the support line of a long-term pattern, igniting hopes of a potential bounce.\u00a0<\/span><\/p>\n<p><span>However, investors remain cautiously optimistic, aware that the validity of this anticipated rebound has yet to be confirmed. Nevertheless, what factors are fueling SHIB\u2019s momentum for this potential rebound?<\/span><\/p>\n<h2><strong>Driving Force Behind SHIB&#8217;s Potential Bounce<\/strong><\/h2>\n<p><span>Technical analysis plays a crucial role in understanding the potential drivers behind price movements in the cryptocurrency market. In the case of Shiba Inu (SHIB), the formation of a <\/span><span>triangle pattern<\/span><span> since June 2022 has captured the attention of traders and investors alike. This pattern is characterized by converging trendlines, with the current price position at a critical juncture, presenting the possibility of either a breakthrough or a retreat.<\/span><\/p>\n<p>After reaching a level of support, $SHIB is exhibiting a pattern of a symmetric triangle, with both buyers and sellers waiting for the next move. pic.twitter.com\/bEkcgklEmq<\/p>\n<p>\u2014 Lune Trading (@LuneTrading) May 21, 2023<\/p>\n<p><span>The significance of this triangle pattern cannot be understated. A breakdown from the triangle would not only put the current support line at risk but also invalidate the year-long support structure that has provided stability to SHIB holders. Such a development would introduce a new level of uncertainty and potentially dampen investor sentiment.<\/span><\/p>\n<p><span>However, recent price movements have shown some encouraging signs for SHIB enthusiasts. On May 8, the <\/span><span>SHIB price<\/span><span> experienced a rebound precisely at the support line of the triangle, marking the first time this level had been reached since the beginning of the year. This rebound was accompanied by a notable increase in price.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/nxQ6oZST\/\" width=\"2047\" height=\"979\"><\/p>\n<p>SHIB market cap currently at $5.10 billion. Chart: TradingView.com<\/p>\n<p>Related Reading: Ethereum: Experts Predict Imminent Bull Run Toward $1,900<\/p>\n<h2><strong>Shiba Inu Continues To Gain Momentum<\/strong><\/h2>\n<p><span>In the dynamic world of cryptocurrencies, Shiba Inu (SHIB) has recently made waves with its impressive performance. According to data from <\/span><span>CoinGecko<\/span><span>, SHIB is currently priced at $0.00000895, showcasing a remarkable 5.1% rally over the past 24 hours. Moreover, the cryptocurrency has been steadily climbing, registering a consistent 1.5% increase in value over the course of the past seven days.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Shiba-Inu-1.png\"><\/p>\n<p>Source: Coingecko<\/p>\n<p><span>As SHIB continues to gain momentum and attract attention, it is important for investors to stay informed and monitor the factors influencing its price movements. <\/span><\/p>\n<p><span>While short-term fluctuations are inevitable in the cryptocurrency market, understanding the underlying dynamics and staying updated on news and developments can help navigate the ever-changing landscape.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk)<\/em><\/p>\n<p><em>-Featured image from Unsplash<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/news\/shiba-inu-all-green-today\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu (SHIB) enthusiasts have been eagerly<\/p>\n","protected":false},"author":3,"featured_media":175838,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shiba Inu All Green Today - What&#039;s The Driving Force? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu All Green Today - What&#039;s The Driving Force? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Shiba Inu (SHIB) enthusiasts have been eagerly\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-23T11:39:19+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Shiba-Inu-All-Green-Today-Whats-The-Driving-Force.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/\",\"name\":\"Shiba Inu All Green Today - What&#039;s The Driving Force? - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2023-05-23T11:39:19+00:00\",\"dateModified\":\"2023-05-23T11:39:19+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Shiba Inu All Green Today &#8211; What&#039;s The Driving Force?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Shiba Inu All Green Today - What&#039;s The Driving Force? - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/","og_locale":"en_US","og_type":"article","og_title":"Shiba Inu All Green Today - What&#039;s The Driving Force? - Pre Coin News","og_description":"Shiba Inu (SHIB) enthusiasts have been eagerly","og_url":"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/","og_site_name":"Pre Coin News","article_published_time":"2023-05-23T11:39:19+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Shiba-Inu-All-Green-Today-Whats-The-Driving-Force.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/","url":"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/","name":"Shiba Inu All Green Today - What&#039;s The Driving Force? - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2023-05-23T11:39:19+00:00","dateModified":"2023-05-23T11:39:19+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/shiba-inu-all-green-today-whats-the-driving-force\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Shiba Inu All Green Today &#8211; What&#039;s The Driving Force?"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/175839"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=175839"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/175839\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/175838"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=175839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=175839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=175839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}