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$SHIB

Shiba Inu (SHIB) is showing a textbook Cup and Handle Pattern on the daily chart, a bullish continuation structure signaling the potential for a significant breakout. Currently trading around $0.00002216, SHIB seems poised for a dramatic move higher as it approaches the handle's resistance.

Key Pattern Insights:

Cup Formation:
The rounded base indicates a prolonged accumulation phase, signaling a shift from a bearish sentiment to a neutral or bullish outlook.
SHIB retraced steadily, forming higher lows and maintaining strong support around the $0.00001700-$0.00001900 range.

Handle Development:
The price is consolidating in a descending channel, forming the classic "handle" portion of the pattern.
This consolidation is a healthy retracement, allowing bulls to recharge before attempting a breakout.

Breakout Target:
Upon breaking the neckline resistance at $0.00002500, the Cup and Handle's projection targets $0.00004400, nearly doubling the current price.
The measured move aligns with the height of the cup added to the breakout point.

Support and Resistance Levels:
Immediate Support: $0.00002100 remains critical for the handle's continuation. A failure to hold this level could delay the breakout but does not invalidate the bullish structure.
Key Resistance: $0.00002500 acts as the neckline. A confirmed daily close above this level will ignite the next leg higher.

Momentum and Volume:
The volume profile confirms increasing interest during the cup's formation, with a slight tapering during the handle—a pattern characteristic of strong setups.
Momentum indicators suggest room for growth, further supporting the bullish outlook.

Potential Scenarios:
Bullish Breakout: A decisive breakout above $0.00002500 opens the door for SHIB to rally toward $0.00004400, completing the Cup and Handle formation.
Pullback and Retest: A brief retest of the $0.00002100 support zone before resuming upward momentum would create an ideal entry opportunity for bulls.
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Current price is hovering between $1.37 and $1.45, with slight variations across major platforms .

24‑hour trading volume is surging, estimated between $700M to $800M .

Market capitalization is estimated at around $270M to $285M, based on a circulating supply of roughly 195 M PROVE tokens .

The all-time high price was approximately $1.43 on August 6, 2025, and current levels are just a few percentage points below it .

📈 Price Momentum & Market Action

PROVE has experienced a sharp rise—up +50% over the last 24 hours—driven by heavy trading volume and increased investor attention .

However, the token faced intense volatility after its initial Binance listing, where prices dropped nearly 40% to below $0.63 amid pulse selling, before recovering to the current range .

📊 Key Drivers & Considerations

🔓 Token Unlock Events

About 200 M tokens (20% of total supply) are unlocking today, which has weighed on price due to short-term selling pressure .

🚀 Prover Network Launch

The Succinct Labs Prover Network is now live, and currently secures around $4 billion across Ethereum, Solana, and Bitcoin. This reflects a growing demand for zk-SNARK-based interoperability infrastructure .

🧠 Market Context

Broader crypto market conditions remain mixed: global market cap is down ~2.7% weekly, while macroeconomic concerns such as high interest rates and geopolitical tensions continue to challenge altcoin sentiment .

🔍 Technical Outlook

PROVE is trading just below its recent all-time high (~$1.43); a sustained break above that level could signal a continuation of the rally.

However, token unlocks may cause short-term selling pressure, potentially pushing price back toward the $0.80–$1.00 range.

Watch trading volume, price action around the ATH, and whether bulls can absorb the unlocked supply.

🧾 Summary Overview

Metric Value

Price Range ~$1.37 – $1.45 (near ATH)
24h Volume $700 M – $800 M
Market Cap ~$270 M – $285 M
Volatility ~+50% gain in last day
Token Unlock ~20% supply today
Catalysts Prover Network live, rising adoption
Risks Unlock-related supply pressure, broader market headwinds

📌 Takeaway

Prove Coin is showing strong momentum today, trading near its all-time high with massive trading volume. The launch of its Prover Network and utility within cross-chain zk infrastructure are top fundamentals supporting it. However, it’s crucial to monitor token unlocks releasing into circulation, which may lead to near-term volatility. For traders and investors, success will depend on how the market digests today's unlock and whether positive fundamentals continue to attract buyers.
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