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Benzinga
Benzinga
Business
Melanie Schaffer

Why Shiba Inu Looks Prepped For A Run And How To Trade These DOGE Killer's Patterns

Shiba Inu Nasdaq

Shiba Inu (CRYPTO: SHIB) was trading about 4.5% lower on Thursday in a second day of consolidation after over 21% higher on Tuesday, after Robinhood Markets Inc (NASDAQ:HOOD) announced it had listed the Dogecoin (CRYPTO: DOGE) competitor.

The price action on Wednesday and Thursday has taken place completely within Tuesday’s trading range, which has created a double inside bar pattern on the daily chart. An inside bar pattern indicates a period of consolidation and is usually followed by a continuation move in the direction of the current trend.

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