YEREVAN (CoinChapter.com) — Shiba Inu (SHIB) has rallied by nearly 45% in the past two weeks, and was trading for as much as $0.00001567 as of March 26. The memecoin’s potential to continue rallying further is higher due to a mix of technical and fundamental indicators. That includes its prevailing ascending triangle pattern, which has already entered its bullish breakout stage.
Will Shiba Inu Price Rally Further?
As of March 26, SHIB was breaking out of its previous ascending triangle pattern, signaling a persistent bullish reversal move.
For the unversed, an ascending triangle forms when the price rises inside a range defined by a rising trendline support and horizontal trendline resistance. Meanwhile, traders interpret a breakout when the price breaks above the resistance trendline and rises by as much as the triangle’s maximum height, as shown below.
SHIB/USD Breaks Out of Ascending Triangle, Targets One-Month High. Source: TradingView
In other words, SHIB’s ascending pattern indicates growing buying pressure as sellers gradually lose control. If SHIB follows this breakout structure as intended, it could surge toward 0.00001609 USDT by March’s end, thus establishing a new monthly high.
Furthermore, SHIB is now trading above its 50-4H exponential moving average (50-4H EMA; the red wave) at around 0.00001306 USDT and the 200-4H EMA (the blue wave) at around 0.0001334 USDT. That further reinforces the upside outlook.
However, the Relative Strength Index (RSI) at 88.16 indicates overbought conditions, suggesting a short-term pullback could occur before another rally.
SHIB/USD RSI Surges to Overbought Zone, Signals Strong Momentum Shift. Source: TradingView ShibaSwap DEX Volumes Pop As Price Booms
Shiba Inu’s price surged today due to high trading volume, technical breakout, and strong whale accumulation. Investors showed increased interest, leading to a 228% jump in SHIB’s trading activity over the last month.
For instance, ShibaSwap, SHIB’s decentralized exchange, also recorded a massive 244% rise in volume, pushing overall liquidity higher. This increase in demand helped SHIB break past key resistance levels.
ShibaSwap Trading Volume Surges, Reaching $17.187 Billion in Total Transactions. Source: DeFiLlama
Whale investors played a major role in today’s rally.
Large holders increased their SHIB accumulation by 2,025% in the last seven days as of March 26, indicating confidence in the asset. This surge in whale activity suggests that institutional or high-net-worth traders see potential for more gains. With strong technical support and growing demand, SHIB remains in a bullish phase, but traders should watch for resistance levels ahead.
SHIB Large Holder Inflows Surge Over 2,025% in One Week Amid Rising Accumulation. Source: IntoTheBlock
