Shiba Inu: Is SHIB a safe bet in December? Assessing… – BitRss

• SHIB’s successful breakout and RSI signal potential bullish movement, aiming for higher resistance at $0.00004495.
• On-chain and exchange data show mixed signals, but large transactions indicate sustained institutional interest.

Shiba Inu [SHIB] has recently sparked significant excitement within its community, driven by a staggering 144,223.06% surge in burn rates. This unprecedented increase, coupled with a successful breakout from a descending triangle pattern, has reignited optimism among investors. 

At press time, SHIB was trading at $0.00003013, reflecting a 4.73% decline in the last 24 hours. Despite this short-term pullback, the recent price movement and growing community engagement suggest that Shiba Inu might continue to show bullish potential.

Has SHIB truly broken free from resistance?

SHIB has recently managed to break out from a key descending triangle pattern. After testing and retesting the resistance level at $0.00002755, it has set its sights on the next key level at $0.00004495.

This breakout suggests bullish potential; however, the sustainability of this movement will depend on the ability to hold above the resistance level. 

The Relative Strength Index (RSI) currently sits at 61.49, indicating moderate bull…