Shiba Inu, the popular meme coin, has been experiencing a significant price drop, falling over 41% from its recent high. However, a closer look at the daily chart reveals a bullish flag continuation pattern, suggesting a potential rebound. This pattern is commonly seen in established uptrends, allowing buyers to regain momentum.

According to crypto analytics firm Santiment, Shiba Inu is currently undervalued, making it an attractive opportunity for investors. The MVRV Z-Score, which compares market value to realized value, indicates that Shiba Inu is poised for a price increase. Meanwhile, other cryptocurrencies like Toncoin, Bitcoin, and Ethereum are considered overvalued.

The bullish flag pattern suggests that Shiba Inu's price could rise by 28-30% before challenging the key resistance level. If the buying pressure continues, the price could potentially reach $0.00003, with a further target of $0.000045. However, a breakout from the flag pattern is necessary to confirm the resumption of the uptrend.

Technical indicators like the 20-day Exponential Moving Average and the Average Directional Index also support the bullish outlook. The ADX slope is shifting, indicating weakening bear momentum, while the EMAs are providing supply pressure at the $0.0000183 level.

In conclusion, Shiba Inu's price drop may be a temporary correction, and the emergence of a bullish flag pattern suggests a potential rebound. With the coin being undervalued and technical indicators aligning, investors may want to keep a close eye on Shiba Inu's price movement. A breakout from the flag pattern could signal the resumption of the uptrend, making Shiba Inu an attractive opportunity for those looking to invest in the cryptocurrency market.