NEAR Protocol (NEAR), Shiba Inu (SHIB), Continuation Pattern
Cryptocurrency Market Patterns: Continuous, Near, and Stable Price Rally
The cryptocurrency market has been going through a period of ups and downs recently, with many assets experiencing significant price swings. However, one pattern in particular has been gaining popularity – the continuation of the uptrend in Near Protocol (NEAR) (NEAR) and Shiba Inu (SHIB), along with its intriguing relationship to the Continuation Pattern.
Continuation Pattern: A Key Indicator
A Continuation Pattern is a technical analysis tool used to identify potential price increases for cryptocurrencies. It involves analyzing a cryptocurrency’s previous high, followed by an uptrend above the previous low, and then another uptrend above the previous high. This pattern has been observed in several cryptocurrencies and is believed to indicate a strong buy signal.
Near Protocol (NEAR) and Shiba Inu (SHIB): A High Rally Cycle
Neon Network (formerly known as Near Protocol), a decentralized smart contract building platform, has seen remarkable growth in recent months. The project’s native cryptocurrency, NEAR, has surged by over 1,000% since its initial public offering (IPO) in March. Popular meme coin Shiba Inu (SHIB) has also seen a significant price increase, up over 500%.
A Continuation Pattern
Both Near Protocol and Shiba Inu have shown consistent growth patterns that indicate a continuation of their upward trend. The NEAR protocol’s rise in value is primarily due to its strong fundamentals, including a scalable blockchain infrastructure and a growing ecosystem of decentralized applications (dApps). Meanwhile, Shiba Inu’s price has been fueled by its community-centric approach to tokenomics, with a focus on community engagement and social media promotion.
Chart Look
Here is a quick analysis of Near Protocol and Shiba Inu based on their respective charts:
- Near Protocol (NEAR)
+ Price: $0.33
+ 24-Hour Volume: $1.2 Billion
+ Gain in Value: Over 1000% Since IPO
- Shiba Inu (SHIB)
+ Price: $0.08
+ 24-Hour Volume: $150 Million
+ Gain Over 500% Since ICO
Conclusion
The continuation pattern observed in Near Protocol and Shiba Inu suggests that these assets are on the verge of another price rally. As long as these cryptocurrencies continue to gain traction, their prices are likely to see a significant increase. Investors should exercise caution and do their research before investing in any assets.
Remember
- Always conduct thorough market analysis and risk assessment before making any investment decisions.
- Cryptocurrencies are highly speculative and carry inherent risks, including price volatility and regulatory uncertainty.
- Never invest more than you can afford to lose.
