With a recent significant technical advance, Shiba Inu may be about to start a long-awaited bull run. The 50-day Exponential Moving Average (EMA), a crucial resistance level that frequently serves as the first gate to trend reversals, has finally been reached by SHIB after weeks of consolidation and muted price action. SHIB has increased by almost 3% on the day and is currently trading at about $0.0000127, indicating a change in sentiment.

Together with increasing volume, the breakout above the 50 EMA points to a rise in market participants’ confidence. The asset is now in a position to test the 100 EMA and possibly target the 200 EMA, which is located close to the $0.0000166 zone, according to this move. Above all, this breakout is consistent with a larger pattern observed on the cryptocurrency market.

Major EMAs have been regained by Bitcoin, and Ethereum is recovering with increasing whale accumulation. Memes like SHIB may benefit from the resurgence of market optimism as the macro environment improves and momentum shifts back toward riskier assets. Now at 54, the RSI is rising gradually but is still well outside of overbought territory. This provides SHIB with a great deal of technical leeway to keep rising without encouraging unwarranted profit-taking.

If momentum continues, $0.0000148 will be the next significant resistance, and then the psychologically significant $0.000017 level will follow. It is critical to keep support above the 50 EMA in the short term. SHIB will probably draw more inflows from traders and investors, hoping for a longer-term breakout if it can stay above this line. It appears that a new bullish phase for Shiba Inu may be about to begin. SHIB may finally emerge from its months-long decline if the general market rally continues and a true bull run could be in the works.👇👇

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