- SHIB gains over 6% as volume surges 50%, indicating strong buyer interest and rising momentum.
- A breakout above the 50-day moving average could open targets at $0.00001500 to $0.00002500.
- Clearing the 200-day moving average near $0.00001634 may lead to a rally toward $0.0001032.
Shiba Inu (SHIB) is showing renewed strength after a recent price increase, gaining over 6% in the past 24 hours. Trading volume surged by over 50%, suggesting rising investor interest. Analysts believe SHIB may be entering a bullish phase, with key technical levels now under close watch.
Price Action Strengthens with Volume Surge
SHIB is currently priced at $0.00001344 having reached a high of approximately lugerus-00001350 in the current session. Its price started rising from 0.00001249 and formed higher low points in the process. This movement reflects growing buying pressure, supported by a 50.23% rise in 24-hour trading volume, reaching $391 million.
Market capitalization grew by 7.67% to $7.9 billion. The fully diluted valuation remained close at $7.91 billion, which aligns with SHIB’s circulating supply of 589.24 trillion out of a capped 589.55 trillion total. According to data from Coinglass, the volume-to-market cap ratio stands at 4.94%, indicating strong market activity and liquidity.
SHIB’s price remained within a key trading range of $0.000010 to $0.000016. The cryptocurrency held above its recent consolidation level and avoided sharp retracements during the session.
Analysts Watch Moving Averages and Breakout Levels
According to crypto analyst Jonathan Carter, SHIB has been trading in a descending channel on the daily chart since December 2024. The price is currently above the midline support and is testing the 50-day moving average. He stated, “Breaking above this MA could drive the price toward targets at $0.00001500, $0.00001750, $0.00002050, and $0.00002500.”
Another analyst, MasterAnanda, noted that SHIB’s price is still below its 200-day moving average, currently at $0.00001634. According to his analysis, a breakout above this level may push SHIB into a stronger rally phase.
He added that SHIB’s price target could reach $0.0001032 if momentum continues to build. As of now, SHIB remains down about 85% from its October 2021 high of $0.00008845, yet analysts agree it has room for recovery.
