Investors searching for the market's next big move are taking notice of Shiba Inu due to its recent dramatic 40% price increase.

After a protracted period of consolidation the price of SHIB has been rising steadily. It has now entered a crucial phase that could decide whether or not this uptrend continues. According to the chart SHIB is presently exhibiting a definite bullish trend and is in an ascending channel. Currently the price is circling around $0.000018 after steadily rising. One important level to keep an eye on is the resistance at $0.000020.

The price may rise as the uptrend picks up even more vigor if Shiba Inu breaks through this barrier. The next major resistance level which is approximately $0.000025 may be approached by SHIB as a result of this breakout. Support levels at $0.000012 and $0.000015 are critical for preserving the bullish structure on the downside. If these levels are not maintained a retracement may be indicated which could result in a correction.

Shiba Inu however is in a reasonably strong position to continue its rally given the current momentum and the price trending above the 50 EMA 100 EMA and 200 EMA assuming the overall market stays favorable.