Shiba Inu Investor Predicts a Bull Run After a Massive SHIB Pump

• Shiba Inu pumped 6.5% on Monday morning.
• A SHIB investor expects the Shiba Inu pump to continue higher.
• Massive pumps are common with memecoins during bull runs.

An acclaimed crypto investor with a preference for Shiba Inu has spotted an ‘interesting’ development in the cryptocurrencys price behavior.

In his latest post on X, the investor highlighted a bullish candle on the SHIBUSD daily chart on TradingView, describing the scenario as “A Great Candle by SHIB” and predicting that it is the beginning of great pumps.

The identified scenario saw Shiba Inu surge 6.5% early Monday morning, climbing over $0.00001400 for the first time in the past six weeks. Notably, the latest SHIB surge happened less than 24 hours after the investor predicted a breakout from a bullish flag chart pattern, setting a 17.72% upside target that would see the memecoin reach $0.0000233.

Related: Shiba Inu Sets a Record With Over 1 Billion SHIB Burned in a Single Transaction

Although Shiba Inu returned a significant profit last week, with Monday‘s pump suggesting the upside movement could continue into the new week, the memecoin’s chart pattern leaves critical details that could influence investors‘ decisions in the next few days. For instance, SHIB’s daily chart on TradingView shows the cryptocurrency has broken above resistance at $0.00001350.

SHIB‘s Monday morning surge smashed the resistance after a few days of constant testing and retesting, converting the level into support. However, the weekly chart, which is a higher timeframe, shows that the memecoin is trading within a congested area. SHIB will need to overcome this region to boost investors’ sentiment and potentially initiate a sustained rally.

Related: Shiba Inu Price Prediction: SHIBs Chart Mirrors 2021 Breakout – Is History About To Repeat？

In the meantime, the bullish candle identified by the acclaimed investor and its alignment with the trend among the top cryptocurrencies suggest a momentum build-up for the memecoin. More candles of that nature will push Shiba Inu above the congested region on the weekly chart and open the way for more upside movements.

Typically, such moves are typical of memecoins, with Shiba Inu ranking among the top echelon of that category of cryptos. Confirming a bull run will trigger more pumps like the one seen on Monday morning for SHIB, as predicted by the investor.