Shiba Inu, a popular meme coin, might be on the brink of a significant price increase, as suggested by a recent analysis. The TD Sequential indicator, a key technical tool used to predict price trends, has signaled a potential bullish upswing for SHIB.

This positive outlook aligns with the recent 19% surge in SHIB’s value over the last week, which is likely linked to the broader uptrend in the cryptocurrency market, particularly with Bitcoin’s recent 20% climb.

The TD Sequential indicator’s recent shift to a buy signal, as noted by crypto analyst Ali Charts, signifies the possibility of a bullish reversal. Past occurrences of such shifts have resulted in notable price surges of 118% and 71% for SHIB.

Further supporting this potential rally is the analysis of SHIB’s price action on a weekly chart. Various momentum indicators, such as the Money Flow Index (MFI), Chaikin Money Flow (CMF), and the Positive Directional Indicator, all indicate a favorable market sentiment with increased buying pressure.

For instance, the positive CMF value, MFI at 61.70, and the Positive Directional Indicator outweighing the Negative Directional Indicator suggest that the buyers are currently dominating the market. Additionally, the Bull Bear Power indicator’s steady increase since October 16 also reinforces the growing presence of bullish sentiment in the SHIB market.

As of now, SHIB is being traded at $0.000008027, and its positive technical setup and recent price movements indicate the potential for further growth. It’s important to note that cryptocurrency investments carry inherent risks, and investors should conduct thorough research and consider their risk tolerance before making any investment decisions.