The volume of transactions on Shiba Inu reached 5.76 trillion SHIB on May 20, a startling increase. The underlying on-chain metrics and price structure point to a more complex, and potentially bearish, reality despite the headline's potential to thrill retail traders. Technically speaking, SHIB recently recovered from the 100-day exponential moving average (EMA), and it is currently serving as dynamic support in the $0.00001440-$0.00001460 range.The daily chart zone of strong historical support corresponds with this rebound. The RSI is far from indicating an overheated rally, but it has returned to neutral territory, suggesting renewed buying interest. More significantly, the price is currently getting closer to the black line or critical 200 EMA at $0.0001600.
