   
Shiba Inu is close to establishing a Decentralized Autonomous Organization (DAO), a move that could bring huge benefits to the SHIB token and the entire Shiba Inu ecosystem.
The Shiba Inu pLucie, Head of Marketing at seudonymous, revealed the plans for decentralized governance. In an X-post, Lucie noted that Shiba Inu plans to give more power to each SHIB holder by giving them a say in the direction of the project.
The marketing director stated that the Shiba Inu DAO is not yet fully implemented, but once it is launched, SHIB token holders will be able to participate in decision-making.
“(Shiba Inu) is preparing to become a major player in decentralized governance with the upcoming launch of its DAO. This transition will give every holder, regardless of the size of their stake, the opportunity to have a say in the direction of the community,” Lucie explained.
The team further explained that the plan is to expand the utility of SHIB and give it a competitive advantage in the cryptocurrency industry.
 Is SHIB ready for a rally?
SHIB price is down 0.29% in the last 24 hours as the bearish trend in the broader cryptocurrency market hampers its price action.
SHIB was trading at $0.00001442 at the time of writing. The price has formed a falling wedge pattern on the one-hour chart. If buyers step in, this bullish pattern could generate profits for SHIB holders.
For SHIB to confirm an uptrend in this pattern, it must break the 100% Fibonacci level at $0.0000148. This would pave a rally to the next key resistance level at $0.0000151.
However, if SHIB falls below the lower trendline of the falling wedge pattern, the bullish thesis will be invalidated.
The Relative Strength Index (RSI) is currently at 35. This means that SHIB is currently trending towards the oversold zone. However, the RSI line has recovered and if it forms another higher low, further gains could be in store. The low RSI also means that there is room for further gains.
The Chaikin Money Flow (CMF) is also sloping, showing a possible bullish divergence. The CMF remains in negative territory, showing that sellers are still in control. However, the CMF line is sloping north, showing a possible trend reversal.
These bullish signs suggest that SHIB price could be in for more gains, but investors should confirm an upside swing by breaking above the upper trendline of the falling wedge pattern.
