In an exciting development for Shiba Inu $SHIB , the currency has managed to surpass an important psychological and technical barrier after breaking the 26-day moving average, a barrier that has hindered recovery attempts since early June. This breakthrough is a strong indicator of the ongoing bullish momentum that has begun to form over the past two weeks.
📊 Over 100 trillion SHIB in circulation!
According to recent data, the SHIB network saw movement exceeding 100 trillion tokens in just the past month. This intense activity indicates a resurgence of interest from investors, whether they are long-term holders or speculative traders.
Most importantly, over 100 trillion SHIB are currently considered "profitable," meaning investors purchased them at prices lower than the current price — which boosts market confidence and increases the likelihood of continued upward movement.
🐋 Whales are moving: Signals of an upcoming bullish wave
On-chain movements indicate that large trading volume addresses are entering a new buying wave after a period of stagnation during May. As support areas between $0.0000110 and $0.0000112 continue to be defended, SHIB has started to form a series of higher lows, reinforcing the positive technical outlook.
🔍 Technical indicators support the rise
The recent move above the 50-day moving average (50 EMA) opens the door for continued upward movement, especially with the Relative Strength Index (RSI) reaching 58, which is still below the overbought zone, indicating that there is additional room for upward movement if buying pressure continues.
However, investors should pay attention to the upcoming resistance levels, as the market may experience volatility when trying to break through them.
🛡️ Disclaimer
This article is provided for informational purposes only and does not constitute investment advice or financial recommendation. All analyses and opinions expressed reflect the author's view only. Please conduct your own research or consult a financial expert before making any investment decisions. Digital markets are high-risk and may result in capital loss.
