Shiba Inu tests MA 50, signaling a possible breakout from a descending channel pattern.
Futures market activity rises, with open interest and funding rates pointing to bullish momentum.
Whale movements spark caution, but strong support at $0.00001175 keeps bulls in control.
Shiba Inu's SHIB has turned heads with a sharp 3% price jump overnight. That move didn’t come alone—it came with volume, confidence, and rising market interest. Traders are watching closely as SHIB tests the 50-day moving average. If this level gives way, fireworks could follow. With fresh momentum, stronger sentiment, and active buying, the stage feels set. Shiba Inu might not just bounce—it could launch. And charts are lighting up with clues.
https://twitter.com/TheMoonHailey/status/1943532741087171044 SHIB Forms Channel While Bulls Return to the Scene
Shiba Inu continues trading inside a descending channel on the daily chart. Price action shows tight consolidation above the midline support. Right now, the 50-day moving average stands as the line in the sand. Breaking above that line could open the floodgates toward $0.00001500 and $0.00001750. If momentum holds, $0.00002050 and $0.00002500 could follow. These aren’t random targets. They match up with past resistance and Fibonacci retracement zones. SHIB recently climbed above the 23.6% Fibonacci level from the May–June downturn. That move suggests early signs of a trend shift. Bulls are slowly gaining control.
In just seven days, SHIB gained 5.4%. That might sound small, but in this setup, it matters. The derivatives market reflects growing interest. Open interest in SHIB futures on Binance hit 7 million for the first time since May 23. That kind of move doesn’t happen without big players showing up. Positive funding rates suggest traders are betting on more upside. Confidence seems to be back, and momentum builds with each new green candle.
Watch These Levels as Momentum Heats Up
The Relative Strength Index just crossed above 50. That marks the first bullish signal since late May. RSI now sits at 57 and climbing. This confirms the shift many traders have waited for. Trading volume has surged above the average of 307.5 billion tokens. That’s a loud signal that buyers are back. Still, resistance remains just above the current price. That’s where bears last took control.
Whale activity adds some caution. A few massive wallets moved trillions of SHIB to exchanges. Sell pressure could return if they offload heavily. Blockchain data shows ten wallets control over half the total supply. Despite that, the $0.00001175 level continues to show strength. Buyers have repeatedly stepped in at this support.
A recent 7.25 billion SHIB volume spike tested resistance hard. That suggests bulls aren’t done yet. If market sentiment shifts stronger, Shiba Inu could double by summer’s end. Watch the chart closely. This breakout attempt might write the next explosive chapter in SHIB’s comeback story, fueled by rising demand, technical strength, and renewed investor confidence across multiple trading platforms.
