Shiba Inu (SHIB) is approaching a critical descending trendline, suggesting a possible bullish breakout. With SHIB’s daily active addresses peaking in October, blockchain usage has increased, highlighting rising interest in the token. However, if SHIB’s daily candlestick closes below $0.0000155, the bullish outlook could weaken.
Shiba Inu Price Shows Signs of Stability and Potential
Shiba Inu recently found support around its 100-day Exponential Moving Average (EMA) at $0.0000168, reinforcing its strength. After testing this level multiple times on Friday, the price surged 14.5% through Tuesday. Currently trading near $0.0000190, SHIB is moving toward a descending trendline, formed from multiple highs since March. A close above this trendline could mark a bullish shift, encouraging further gains.

If Shiba Inu closes above the critical resistance at $0.000020, it may rally 28%, potentially retesting its June high of $0.000026. On the technical side, the daily Moving Average Convergence Divergence (MACD) indicator suggests an upcoming bullish crossover. When the MACD line crosses above the signal line, it signals increased buying momentum, further supporting the bullish trend.
Rising Active Addresses Point to Increasing Demand
As of late October, SHIB’s daily active addresses jumped from 3,398 on Monday to 5,175 by Wednesday, the highest level this month. Santiment’s Daily Active Addresses index reveals that this spike reflects greater blockchain engagement, indicating a rising demand for SHIB’s network. This increase in activity may bolster SHIB’s price trajectory, creating a positive environment for a breakout.
Strong Support Zone Adds to Bullish Sentiment

IntoTheBlock’s In/Out of the Money Around Price (IOMAP) data shows that about 15,780 addresses purchased 414.9 trillion SHIB tokens at an average price of $0.000018. This price zone, between $0.000017 and $0.000018, serves as strong support, aligning with the 100-day EMA at $0.0000168. Such alignment makes this zone a crucial area to watch for potential reversal if SHIB maintains support there.
Key Price Levels to Monitor
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If SHIB breaks below the 100-day EMA and closes under the October 1 low of $0.0000155, it would invalidate the bullish thesis. This scenario could trigger a 16% decline, likely retesting the September 18 low of $0.0000129.
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