Shiba Inu Nears Rebound as Wallet Count Surges Past 1.5 Million
Memecoin's network growth hints at bullish momentum—just as retail traders start glancing back at crypto after their traditional portfolios flatline (again).
SHIB's wallet milestone screams accumulation phase, but let's see if the 'doge killer' can dodge another hype-cycle rug pull. The chart doesn't lie—yet.
Shiba Inu Price Chart, Source: TradingView (SHIB/USDT)
The Relative Strength Index (RSI) has successfully experienced a bullish reversal above the oversold range and is heading toward the neutral trend line. Moreover, it is currently valued at 42.17 (Neutral) with a positive convergence with its average trendline. This hints at increasing bullish action for it in the market.
How High Can SHIB Memecoin Realistically Go?
The Shiba Inu price could retest its immediate resistance levels of $0.00001340 and $0.00001975. A sustained bullish price rally could result in this memecoin heading toward its February high of $0.00002250. Taking into consideration the market sentiments, a sudden spike in the adoption process may push the value of it beyond its $0.00002575 mark.
On the contrary, the crucial support for the SHIB price still stands at $0.00001065, making it a pivotal price point for the 2nd largest memecoin in the market.
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