Shiba Inu (SHIB) has broken its long-term downtrend recently with an impressive rally, according to crypto enthusiast SHIB HOLDER. The meme coin is up over 11% from its September lows.
However, SHIB now faces significant resistance near the psychologically important $0.00001 level, also known as “erasing another zero.” From current prices around $0.0000079, SHIB would need a 25.5% rally to decisively break above $0.00001.
Technical analysis
According to altFINS, SHIB is approaching tough resistance after breaking out of a falling wedge pattern. Their target of $0.0000080 (also near the 200-day moving average) was reached.
