Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shiba Inu is clearly waking up, as evidenced by the development of bullish momentum and the alignment of technical indicators. SHIB has broken through the crucial 200 EMA barrier after a protracted period of inactivity. It is currently attempting to overcome local resistance in order to reach the $0.00002 level, a psychological threshold that has not been reached since the beginning of 2024.
A structural change in SHIB's price action is indicated by the breakout above the resistance level of $0.00001500. This level has historically served as a ceiling, stifling attempts at bull markets. The road ahead is much less crowded now that SHIB has broken through. A surge toward $0.00002 becomes a plausible scenario once the next significant resistance level, which is located close to $0.00001720, is breached.
At this moment the daily RSI is above 80, indicating that SHIB is approaching overbought conditions. Overbought readings can last much longer in breakout conditions as momentum traders pour in — even though this typically comes before short-term corrections. Another important indication that this move is not a fakeout is the volume, which is rising steadily.
This rally's foundation is what sets it apart. Throughout the past month, SHIB has consistently shown higher lows while rising with sound consolidations and pullbacks. The irregular spikes of the past are not the same as this. The 50 EMA's bullish crossover over the 100 EMA further supports the strengthening trend momentum.
Meme coin sentiment is currently improving, and speculative assets like SHIB are being supported by broader market stability and heightened investor risk appetite. Altcoins like SHIB stand to gain from spillover flows if Bitcoin remains stable or rises.
Basically, a push toward $0.00002 is now supported by SHIB's technical and momentum setup. The door will open to this goal if the daily close above $0.00001720 is successful. That milestone might be reached sooner rather than later if volume keeps increasing and sellers stay sidelined.
Vladislav Sopov
U.Today Editorial Team