Shiba Inu (SHIB) fetches 30% gain on Robinhood listing rumor and bullish chart pattern

Shiba Inu (SHIB) fetches 30% gain on Robinhood listing rumor and bullish chart pattern


Shiba Inu (SHIB) seems to be preparing for a bullish breakout as a falling wedge pattern begins to form.

The price of SHIB has been trending lower inside an area defined by two contracting trendlines while accompanying a decline in trading volume. That shows that investors have been less concerned about the downtrend.  

As a result, falling wedges typically provide an ideal springboard for an upside break once the price closes above the structure’s upper trendline. On Thursday, SHIB showed signs of following a similar topside break.

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SHIB/USDT daily price chart featuring a falling wedge. Source: Fiery Trading 

Notably, the token briefly closed above the falling wedge’s upper trendline, hitting an intraday high of $0.00003290. The upside move raised anticipation that SHIB would continue its trend higher in the coming

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