After dangerously approaching a price zone threatened by five zeros, Shiba Inu $SHIB has undergone a remarkable turnaround, avoiding an extra zero level, and rebounding strongly to the $0.000011 area. This rebound has sparked cautious optimism in the broader meme coin market, providing a slight boost in morale amid a massive sell-off. However, this rebound does not negate the fact that Shiba Inu remains under significant pressure and far from its previous highs.

Technically, Shiba Inu's recovery looks $SHIB

is apparent, as a strong green candle formed on June 23, recording an intraday high of +1.38%, pushing the price to nearly $0.00001173 USDT. The bounce occurred directly above a previously tested local bottom, giving the bulls enough leeway to regain limited control - albeit not their dominance.

The immediate resistance to watch is the 26-day exponential moving average (currently near $0.00001221), which has acted as a rejection area multiple times in the past. A successful break above this level would be the first sign of confirmation of a reversal, potentially opening the way to test the 50-day exponential moving average and further consolidation levels near $0.000013.

This modest shift is supported by a notable increase in large on-chain transaction volume. According to data from Into,,The,,Block, June 23 saw a surge to 4.13 trillion #SHİB in whale-level activity, the highest level in the last 30 days. This increase suggests the possibility of some under-the-radar accumulation, or at least a break in the recent selling consensus.

However, the broader downtrend cannot be ignored: $SHIB remains below the 100 and 200 exponential moving average ranges, and long-term sentiment remains bearish. Until the bulls can reclaim higher exponential moving average levels and maintain momentum, this shift may end up being a temporary rally rather than a sustained trend reversal.

In short, #SHIBUSDT may have avoided zero for now, but the burden of proof remains on buyers to overcome strong resistance. #BinanceAlphaAlert #MarketRebound #NEWTBinanceHODLer