$SHIB
🚨 Shiba Inu Price Action and Technical Levels 🚨
After staying near the daily Simple Moving Average (SMA) 50 for several days, the SHIB price has moved upward amid the increasing Shiba inu inflows. The price rose from $0.00001274 to an intraday high of $0.00001408 on May 8. As of the latest update, the SHIB price was trading around $0.00001400, an 11% surge from the intra-day high.
This increase came as the broader cryptocurrency market gained strength. Bitcoin price approached the $102,000 mark, leading to renewed interest across many assets. SHIB’s move has placed attention on its resistance near $0.000015.
Traders are also watching the SMA 200 at $0.00001265. If the price maintains above the SMA 50 and breaks past resistance, another upward move is possible. The SMA 50 may act as support in the short term if momentum holds.