#山寨季怎么布局？ $SHIB $DOGE Shiba Inu Coin is on fire! Breaking key resistance, target $0.00004495, institutional big shots are also starting to accumulate SHIB!

SHIB's recent breakout and RSI indicators show bullish potential, with a target price of around $0.00004495.

Although on-chain data and exchange signals are a bit mixed, large transactions indicate that institutions are still interested in SHIB.

Shiba Inu Coin (SHIB) has recently become very popular in the community, especially with its burn rate skyrocketing by 144,223.06%. This unprecedented growth, combined with breaking the key resistance of a descending triangle, has rekindled investors' optimism.

As of now, SHIB's trading price is $0.00003013, down 4.73% in the past 24 hours. Although there may be a pullback in the short term, based on the overall trend and the enthusiasm of the community, SHIB still has the potential to continue rising.

Has SHIB really broken free from resistance?

SHIB has recently succeeded in breaking through a key descending triangle pattern. After testing the resistance level of $0.00002755 multiple times, it is now looking towards the next target price of $0.00004495.

This breakout indicates it has bullish potential, but whether it can continue to rise depends on its ability to stabilize above this new resistance level.

The Relative Strength Index (RSI) is currently 61.49, showing moderate bullish momentum, but this does not mean it has entered the overbought zone.

So, if SHIB can maintain this momentum and break through more resistance, further increases are possible.

What do SHIB's on-chain signals indicate?

SHIB's on-chain data provides a lot of information about market sentiment. Although the signals are somewhat mixed, they can also help us understand the current trend.

First, the network growth rate has declined by 0.91%, indicating a slight decrease in the number of new addresses joining the SHIB network, which may reflect a decrease in retail investor interest.

On the other hand, the "in-the-money" indicator has increased by 1.08%, meaning that some SHIB holders are in profit, which is typically seen as a bullish signal.

Additionally, it is worth noting that large transaction volume has surged by 2.73%, which may indicate that institutional investors or whale activities are driving price changes. Although some indicators suggest there may be some bearish pressure in the market, overall, on-chain data still leans towards bullish sentiment. $PEPE #shib