Shiba Inu (SHIB) has officially crossed an important milestone, trading above the 26-day EMA and surpassing the psychological barrier of $0.0000125. This rally, which has been gaining momentum over the past two weeks, marks a significant technical and psychological shift for SHIB. The recent price action shows promising signs, suggesting the potential for further growth as market sentiment shifts.
100 Trillion SHIB Tokens Moved: A Surge in Activity
Recent data reveals that over 100 trillion SHIB tokens have been moved in transactions throughout the past month. This surge in activity highlights a resurgence of interest in Shiba Inu, with both long-term holders and speculative traders re-engaging with the asset. Additionally, more than 100 trillion SHIB tokens are now considered profitable, as they were acquired at lower price levels. This is an important indicator, signalling that more SHIB holders are now in a positive position, ready to capitalise on any further price increases.
Furthermore, large whales and high-volume addresses are beginning to position themselves for potential upside, as demonstrated by the rise in on-chain volumes. These volumes had been muted in May, but now show signs of increasing, suggesting that traders are becoming more active in preparation for further moves. As a result, SHIB has carved out a sequence of higher lows, further reinforcing its bullish potential.
Related article: SHIB Burn Rate Surges 1,693% as Over 1 Billion Tokens Destroyed
RSI and Moving Averages Point Toward Further Upside
Additionally, Shiba Inu is challenging the 50-day EMA, which lies just overhead. This barrier, combined with the recent 26-day EMA breakout, suggests that SHIB may have built a solid accumulation base. The RSI has risen to nearly 58, which remains well below the overbought territory, indicating that there is still room for further buying interest to push the price higher. Should this momentum persist, SHIB could experience further upside before encountering resistance.
While the rally looks promising, traders should remain cautious and monitor key resistance levels that could halt the upward movement. The 100 EMA, currently at $0.0000130, is likely to serve as a powerful ceiling for SHIB in the near future. However, an even more critical resistance point lies around $0.0000145, which represents the swing high before SHIB’s June decline.
Breaking through the $0.0000145 level could pave the way for $0.00002, marking a significant upside and potentially confirming a trend reversal. According to chain data, this increase in SHIB’s movement between wallets reflects more than just speculative churn; it indicates possible capital rotation and further accumulation, which is a positive sign for SHIB’s longer-term outlook.
While the technical outlook for SHIB looks optimistic, traders should be aware of any unexpected changes in market behaviour. A drop in volume or a sudden rise in exchange inflows could signal profit-taking and result in a pullback. These are potential risks that investors should closely monitor to determine whether the current momentum can be sustained.
Conclusion: Bullish Sentiment Continues for SHIB
Shiba Inu is at a critical juncture, having broken through important resistance levels and showing strong momentum in the market. With over 100 trillion SHIB tokens moved and increasing interest from whales, SHIB’s prospects appear bright. If it continues to maintain support at key levels, we could see a continued rally toward the $0.00002 mark or even higher. However, traders should remain vigilant and monitor for any signs of profit-taking that could disrupt the upward trend. As always, the path forward will depend on how SHIB reacts to upcoming resistance levels.
