- Shiba Inu breaks through $0.000013 after extended consolidation, trading above both the 50-day and 100-day exponential moving averages.
- Daily volume rises to 5.43 trillion SHIB with a sharp uptick in large transactions, highlighting increased activity from major market participants.
- Whale accumulation and technical strength suggest SHIB could extend its rally if resistance between $0.000013 and $0.0000145 is breached decisively.
Shiba Inu has moved sharply upward, breaking through long-standing resistance levels near $0.000013. The price rise comes after weeks of sideways movement near multi-month lows. SHIB has currently broken its 50-day and 100-day exponential moving averages, and this is a trend that traders tend to relate to increased upward movement.
This recent trend has been the first time since early May that SHIB has been in a position above these critical technical lines. The crossover above both averages suggests growing investor confidence and potential for further gains. Additionally, SHIB’s relative strength index has reached 65, showing growing buyer interest without indicating overbought conditions.
Volume spikes signal increasing investor activity
Trading activity has accelerated notably, with IntoTheBlock data showing 114 large SHIB transactions in the past 24 hours. The total volume surged to 5.43 trillion SHIB, a 3.8 times increase compared to recent seven-day lows. Such spikes in transaction volume are commonly linked with the involvement of large holders, or whales, positioning ahead of potential price moves.
The recent increase in large transaction volume could suggest accumulation by major holders, anticipating further gains. Alternatively, it may reflect liquidity shifts among key stakeholders. Either way, high-volume inflows typically precede elevated volatility and short-term price action.
Psychological resistance is within reach if the trend holds
With increasing momentum, SHIB is likely to touch the psychological resistance zone between 0.000013 and 0.0000145. A further appreciation will translate into a more realistic target of $0.00002 in the short term if the price holds at the current levels. But ensuring this breakout is maintained will be important in preventing a pullback due to speculative profit-taking.
In recent events, it can be seen that a return to the meme coin sphere is already confirmed, and SHIB is one of the markers. Technical and on-chain indicators are in line and strong, and this often indicates the beginning of a wider movement. With more and more trading and the movement of whales, the current bull run could be much more than a short-term pump.
