$SHIB $SHIB
SHIB Jumps Nearly 7% as Bulls Break Through Resistance on Heavy Buying
Shiba Inu (SHIB), the popular meme-based cryptocurrency, surged nearly 7% in the last 24 hours, signaling a potential bullish breakout as investors flood the market with renewed buying interest. The rally comes after weeks of sideways trading, with SHIB finally overcoming a key resistance level that had previously capped upward momentum.
Technical Breakout Sparks Bullish Sentiment
SHIB’s recent move above the $0.000024 resistance level has sparked optimism among traders. This level, previously a ceiling for the token’s price, was broken with strong volume — a classic sign of a potential trend reversal or continuation. The breakout was accompanied by a spike in trading activity, suggesting heavy accumulation by buyers.
Technical analysts point out that SHIB's Relative Strength Index (RSI) remains in bullish territory, indicating strong momentum. If the current uptrend holds, the next resistance is expected around $0.000026, with support now forming at the previous resistance level of $0.000024.
Community and Ecosystem Growth Supporting Rally
Aside from technical factors, SHIB's rally is also being supported by steady development within the Shiba Inu ecosystem. Continued updates to the Shibarium Layer 2 network, ongoing token burns, and hints at new partnerships or utility projects are helping maintain investor interest and confidence.
The SHIB Army — the project’s highly active and loyal community — has also played a significant role in fueling the token’s upward trajectory. Social media buzz and trending activity have historically contributed to SHIB’s rapid price movements, and the current surge is no exception.
What’s Next for SHIB?
While the 7% gain is encouraging for bulls, market watchers remain cautious. The crypto market remains highly volatile, and meme coins like SHIB are especially susceptible to large swings driven by sentiment rather than fundamentals.
