Shiba Inu (SHIB) Finally Breaks out From Downtrend#shiba⚡
Current price movement and on-chain metrics indicate that Shiba Inu is showing encouraging signs of emerging from its protracted downtrend. Following months of consolidation, SHIB is currently trading close to a crucial resistance level at $0.000025, which could pave the way for a bigger upswing.
The 50-day and 200-day exponential moving averages (EMAs), which are frequently regarded as bullish signals, are among the important EMAs that SHIB has successfully broken above on the daily price chart. A notable increase in trading volume over the last week suggests that investor interest is rising. The next key level to keep an eye on is $0.00003; a sustained hold above this resistance could lead to higher targets.
The 73% concentration of large holders further emphasizes how vulnerable SHIB is to whale activity. Although this indicates solid support, it also raises the possibility of volatility in the event that big wallets decide to cash in. In the last day, trading volumes have remained robust at 3.4 trillion SHIB, indicating consistent market participation.
