The post SHIB Breakout Watch: Will Shiba Inu Spark the Next Meme Coin Rally? appeared on BitcoinEthereumNews.com.

Shiba Inu is once again capturing the attention of crypto enthusiasts with recent technical patterns of a breakout. In just the past two days, SHIB has seen an influx of 160 billion tokens, an average of 80 billion per day, which could be a signal that most people are overlooking. Shiba Inu (SHIB), the second largest meme coin after Dogecoin (DOGE), is showing signs of a potential breakout after a lengthy bearish trend. Since SHIB’s all-time high of $0.00008845 in 2021, the token has been on a downtrend marked by a series of consecutively declining highs and decreasing lows.  Its current price action indicates a low-key recovery. SHIB is currently at around $0.0000122, having recovered above the 20-day simple moving average (SMA) and in the process of testing the 50-day SMA at $0.000013. A break above this level would see the price move toward the 100-day SMA at $0.00001576 and, ultimately, the 200-day SMA at $0.00001898. Meanwhile, its 14-day Relative Strength Index (RSI) stands at 46.76, meaning that the asset still has some room to rally before it is overbought. Adding to the upbeat atmosphere, Heikin Ashi candles in the day chart are gradually turning green, an indication of upbeat market sentiment. Accumulation/Distribution Line (ADL) also points toward relief from selling pressure, a possibility of an accumulation phase by the investors. SHIB is now trending over the 20, 50, and 100-hour SMAs, breaking above the level of resistance for the 50-hour SMA.  Key Levels to Watch SHIB is currently standing at the crossroads of a critical juncture, with several point prices as challenges and as protectors. On the upside resistance side, SHIB has near-term overhead pressure at $0.00001283, which aligns with the 50-day simple moving average (SMA), and then at $0.00001576 at the 100-day SMA, and the more ambitious one…

---

Filed under: News - @ April 15, 2025 1:24 am