🔥#Shib Price May Explode! What Will Happen If a Breakout Occurs?

The price of Shiba Inu (SHIB), one of the giant memecoins, is about to break the consolidation period that has been going on for the last 20 days. While the rest of the market is rising, SHIB continues to struggle under the pressure of the bears, but this situation seems likely to change soon. The daily candle on SHIB's price chart shows that it is very close to breaking out of this horizontal range and the critical resistance level seems to be tested once again. Since this critical resistance level has been tested before, a breakout may come.

💡While the activity of large investors on SHIB has decreased, the profitability rate has increased. According to the data provided by Santiment, the daily trading volume profit-loss ratio reached its highest level in the last 7 months, reaching 6.45. This shows that for every SHIB transaction that ended in a loss today, there were 6.45 transactions that ended in profit. The data currently shows that 72.79 percent of SHIB investors are still at a loss.

On the other hand, Shiba Inu lead developer Shytoshi Kusama shared a “Happy Birthday” gif with the hashtag “#Shibarium ” while celebrating the first anniversary of the $SHIB network. In addition to this congratulatory post, the successes of Shibarium’s first year and ongoing developments were also emphasized. Following these developments, SHIB’s price increased by 1.5 percent in the last 24 hours and reached 0.00001437.

🐳 Technical indicators indicate that there is strong buying pressure on #SHIBA , but this upward movement may be short-term. If SHIB’s price fails to break the 50-day EMA, the sustainability of this rise may be in jeopardy. On the other hand, if there is a sustainable break above the 50-day EMA with increasing volume, an increase towards the $0.00001783 level can be expected.