The price of Shiba Inu $SHIB has risen by 7%, reaching $0.00001198 at the time of writing. This increase has pulled SHIB out of a two-month downward trend, which may indicate a change in market sentiment. However, the rally faces resistance. Maintaining growth may be difficult due to concerns about overvaluation.

Currently, SHIB is testing the level of $0.00001188 as potential support. However, overvaluation and market sentiment may hinder this. Depending on market behavior, SHIB may consolidate between $0.00001188 and $0.00001141 or fall to $0.00001059. $WCT $DOGE