- Shiba Inu’s breakout signals a potential shift towards sustained bullish momentum.
- Support levels at $0.00001100–$0.00001300 could hold during minor pullbacks.
- RSI nearing 70 suggests strong momentum but hints at possible short-term pullback.
Shiba Inu (SHIB), one of the most closely watched memecoins in the crypto market, is showing renewed strength. The token has surged to $0.00001516, reflecting a daily gain of 12.97% and a weekly rise of 13.09%.
This price movement, coupled with a 24-hour trading volume exceeding $443 million, signals a significant shift in investor sentiment. As the broader market shows signs of recovery, SHIB’s breakout from months of sideways trading is drawing attention from traders eyeing further upside.
Positive Trend Signals a Shift in Market Structure
Over the past few months, Shiba Inu had traded within a narrow range. That pattern now seems to have shifted. The token recently broke above the $0.00001500 level, closing the day at $0.00001525 a 6.12% increase. This breakout is especially significant as it follows a prolonged period of consolidation since February 2025.
The daily trend now appears firmly bullish, with price action moving steadily higher. The surge above previous resistance suggests a reversal is underway. Furthermore, this momentum is backed by technical indicators that confirm growing buying pressure.
Support and Resistance Levels Define Next Moves
Looking at key price levels, support lies between $0.00001100 and $0.00001150. This range held firm during multiple pullbacks in March and April. A closer support near $0.00001300 may come into play if the price dips slightly before resuming the uptrend.
On the upside, SHIB is currently testing resistance between $0.00001528 and $0.00001530. If it breaks past this zone, the next targets are $0.00001700 and the psychologically important $0.00002000 level. These levels held weight during previous rallies, and surpassing them could fuel further bullish momentum.
Momentum Indicators Support Further Upside
Technical indicators reinforce this positive outlook. The MACD has made a bullish crossover, with the histogram turning green for the first time in weeks. This indicates growing upside momentum.
Meanwhile, the Relative Strength Index (RSI) has climbed to 69.91. While this reflects strong momentum, it also places SHIB near overbought territory. Consequently, a short-term pullback cannot be ruled out before the next leg up.
