-
Shiba Inu (SHIB) has recently surpassed a critical technical barrier, signaling renewed momentum in its price trajectory.
-
On-chain metrics reveal increased token movement and accumulation, highlighting growing confidence among investors and traders alike.
-
According to COINOTAG, “The surge in SHIB transactions and profitable holdings underscores a potential shift in market sentiment favoring sustained bullish activity.”
Shiba Inu breaks above key EMAs with rising on-chain activity, signaling a bullish trend. Watch resistance levels and volume for sustained momentum in SHIB price.
Shiba Inu Breaks Above 26-Day EMA, Indicating Renewed Bullish Momentum
The recent price action of Shiba Inu (SHIB) demonstrates a significant breakthrough as it climbed above the 26-day exponential moving average (EMA), a technical level that had previously capped recovery attempts since early June. Trading above $0.0000125, SHIB has established a consistent rally, supported by a series of higher lows that reflect strengthening buying pressure. This movement is crucial as it marks a potential reversal from the prolonged consolidation phase, suggesting that market participants are increasingly optimistic about SHIB’s near-term prospects.
On-Chain Activity Signals Increased Investor Engagement and Accumulation
Recent blockchain data highlights a substantial increase in SHIB token transfers, with over 100 trillion tokens moved in the past month. This surge in on-chain volume is indicative of heightened engagement from both long-term holders and speculative traders. Notably, more than 100 trillion SHIB tokens are currently in profitable positions, meaning they were acquired at lower price points. This accumulation trend is further validated by the defensive stance of whales and large holders around the $0.0000110-$0.0000112 support zone, which has helped maintain upward momentum. Such capital rotation suggests that the market is not merely experiencing speculative churn but is potentially entering a phase of sustained accumulation.
Technical Resistance Levels and Indicators to Monitor for SHIB’s Next Move
While the rally above the 26-day EMA is promising, investors should remain vigilant of upcoming resistance levels. The 50-day EMA, positioned just above the current price, represents the immediate hurdle. Beyond this, the 100-day EMA near $0.0000130 could act as a more formidable ceiling. A decisive break above this level would open the path toward the $0.0000145 region, the last swing high before the June downturn. Surpassing this point could confirm a larger trend reversal and potentially pave the way for SHIB to target the $0.00002 mark. The Relative Strength Index (RSI) currently sits near 58, comfortably below overbought territory, suggesting there remains room for further price appreciation if buying interest persists.
Potential Risks: Volume Trends and Exchange Inflows
Despite the bullish technical setup, traders should monitor volume trends closely. A decline in on-chain transaction volume or an unexpected rise in SHIB inflows to exchanges could signal profit-taking or a short-term correction. Such developments may temporarily stall the upward momentum or lead to increased volatility. Maintaining a balanced view on these metrics will be essential for managing risk and identifying optimal entry or exit points in the evolving SHIB market landscape.
Conclusion
Shiba Inu’s recent breakout above key moving averages, combined with robust on-chain activity, underscores a potentially bullish phase for the token. However, investors should carefully watch resistance levels and volume indicators to gauge the sustainability of this rally. The current technical and fundamental signals suggest that SHIB could be poised for further gains, but prudent risk management remains vital in navigating the volatile crypto environment.
