Shiba Inu Shatters Key Resistance—Bull Run Officially Unleashed

Shiba Inu isn’t just barking—it’s biting through resistance levels like a meme coin on steroids. The breakout? Pure fuel for degens and a middle finger to traditional finance’s ‘safe’ assets.

Why this rally matters

No fluff, no hopium—just price action. SHIB’s surge past its make-or-break level signals one thing: the crowd’s back. Retail traders are piling in, liquidity’s thickening, and suddenly that ‘joke’ token smells like serious alpha.

What’s next? More volatility, obviously. But for once, the charts agree with the hype. Just don’t tell your financial advisor—they’re still busy recommending 2% yield bonds.

Shiba Inu Overcame Resistance: Target Set at $0.00002

Since February 2024, Shiba Inu had been moving sideways but recently surpassed $0.00001500, breaking a critical ceiling. The bulls have pushed the price above both the 50-day exponential moving average (EMA) and the 200 EMA with volume-backed purchases, clarifying the next target by testing the $0.00001720 resistance on major cryptocurrency exchanges.

A crucial aspect of this surge is the 50 EMA crossing above the 100 EMA, confirming a strengthening trend. Presently, the price is producing higher lows during each pullback, maintaining corrections as limited. In past rallies, the memecoin witnessed sudden and erratic jumps, but now it has adopted a healthier, volume-based upward momentum. This structure prepares the ground for the $0.00002 level to become a surmountable psychological barrier.

Technical Indicators and Market Sentiment on SHIB Coin

According to TradingView data, the RSI indicator hovering above 80 points to an overbought region. This level can be maintained during major breakouts. Short-term momentum-focused investors and new investors joining through community support are predominantly on the buying side. The spike in volume suggests that selling pressure might remain limited even during potential corrections.

The market sentiment is positive, bolstered by Bitcoin’s stability, which allows capital to flow into altcoins. Particularly, the calm environment surrounding Bitcoin$118,684 increases risk appetite, and shiba inu capitalizes on this heightened risk appetite. A daily close above $0.00001720 would remove the last obstacle on the path towards the $0.00002 threshold.