Shiba Inu (SHIB) has surpassed the 26-day exponential moving average (EMA), currently trading near $0.0000125, indicating renewed bullish momentum for the cryptocurrency. This technical breakthrough marks a significant shift in market sentiment and investor positioning.
On-chain metrics reveal a substantial spike in SHIB token transfers and accumulation, with over 100 trillion tokens concentrated near the $0.0000110-$0.0000112 support zone. This pattern demonstrates strong investor conviction at critical price levels despite ongoing market volatility.
The immediate technical resistance now resides at the 50-day EMA, followed by the 100-day EMA near $0.0000130. A decisive break above these barriers could propel SHIB toward the $0.0000145 threshold. Supporting this outlook is the Relative Strength Index reading of 58, suggesting room for upward movement before encountering overbought conditions.
Potential challenges include monitoring exchange inflow patterns and trading volume trajectories, as sudden increases in token transfers to trading platforms could pressure bullish momentum. Market participants should remain vigilant regarding these volume dynamics for confirmation of sustained price strength.