Shiba Inu on Verge of Epic Breakout as Price Jumps 10%.

Dog-themed cryptocurrency Shiba Inu (SHIB) has executed a surprising reversal, breaking past the Simple Moving Average (SMA) 50 at $0.0000245. This move was accompanied by a significant price jump of nearly 10%.

At the time of writing, SHIB was up 8% in the last 24 hours to $0.00002577 after reaching intraday highs of $0.0000263.

The daily SMA 50 at $0.0000245 has been a resistance level for Shiba Inu, capping its price since mid-April and preventing a breakout. However, SHIB surmounted this barrier temporarily in late May, reaching highs of $0.0000294 on May 29.

Shiba Inu's price met resistance at this

high and began declining as profit-taking ensued. This decline caused SHIB's price to plunge below the daily SMA 50 after

four days of losses, reaching a low of

$0.00002284 on June 4.