With a market cap of $5.36 billion, the second biggest meme coin, Shiba Inu Price is preparing for a bullish breakout this month. As the market recovery anticipations are higher in February, with a proven track record over the year, the altcoins, especially meme coins, are preparing for a bull run.
However, the SHIB price spirals down in a falling wedge pattern, challenging the bottom support at the $0.0000090 mark. Due to such a volatile and bearish dropback in the daily chart, we tasked the trending ChatGPT to predict the bullish breakout and the potential uptrend gains.
The SHIB price currently trades at $0.00000910 with a minimal but positive intraday move. Further, the reversal from the 200-day EMA teases a morning star pattern to solidify the reversal point.
The bullish reversal from the 200-day EMA can break the falling wedge pattern and fuel a supersonic rally.
Further, the declining trend in the intraday trading volume during the pullback phase increases the likelihood of a breakout phase.
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ChatGPT Supports The Bullish Breakout Rally
According to ChatGPT, the breakout rally can fuel a bull run and help SHIB price target $0.00002105 in February 2024.
Conversely, a plunge below the $0.0000090 will change the price dynamics and potentially lead to a bearish turnaround.