Shiba

Momentum

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Shiba Inu

<ul>
 <li>Shiba Inu’s value has risen by 3.56%, marking a notable recovery to $5.53 billion market capitalization.</li>
 <li>On-chain activity surged by 1,173.58%, driven by major SHIB holders, indicating bullish market behavior and heightened investor interest.</li>
 <li>Technical indicators signal a promising future, with bullish market sentiment and potential for an upward trajectory.</li>
</ul>
Shiba Inu (SHIB) has experienced a significant rebound in its trading value. The latest market data reveals a 3.56% increase in SHIB’s value, propelling its market capitalization to a noteworthy $5.53 billion.&nbsp;
One of the driving forces behind Shiba Inu’s bullish momentum is the intensified on-chain activity, particularly a staggering 1,173.58% surge in transactions. This surge in high-value transactions is attributed to whales actively maneuvering across various platforms.
If the cryptocurrency manages to break through the initial resistance at $0.00001, experts anticipate a potential uptick in its valuation. Scaling the subsequent significant resistance near $0.000015 could set the stage for a bullish movement toward the $0.00003 mark.&nbsp;
However, any hesitation or stalling at the $0.00001 resistance level might trigger a downturn, with support levels crucially positioned around $0.000009. A further dip below $0.000008 could exacerbate the decline, potentially leading to a steeper descent for <a href="https://www.tradingview.com/x/FaMmcX1G/" rel="noopener noreferrer nofollow">SHIB</a>.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/i92NhLA9ieqP77xt3eBZW-FB89WTUnoukZ5C6HJqa0oJ7trREf88JL4MR6q1cPKLmB64aJASNg9rJAd-tVnPViWPe7-doZpBN6yt-OKnf9tqR1aj1Bq9WKKjOUpwDIqCvGrZQPOwWOaTTOXOxCOYO8s" alt="">
</figure>
Source: TradingView
Technical indicators are aligning with the optimistic outlook. The Moving Average Convergence Divergence (MACD) indicator displays a burgeoning green histogram, signaling a bullish market sentiment and increasing buying activity.&nbsp;
Additionally, the Awesome Oscillator’s positive reading of $50.20 echoes a bullish market trend. The Relative Strength Index (RSI) signals a bullish momentum, inching closer to the overbought demarcation of 70. The 50-Smooth Moving Average and the 20-SMA are on an upward trajectory, reinforcing a short-term bullish sentiment.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
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 <li><a href="https://cryptonewsland.com/cardano-gathers-momentum-toward-0-7-as-whales-fuel-surge/" rel="noopener noreferrer nofollow">Cardano Gathers Momentum Toward $0.7 as Whales Fuel Surge</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inus-bullish-momentum-signals-a-potential-12-price-surge/" rel="noopener noreferrer nofollow">Shiba Inu’s Bullish Momentum Signals a Potential 12% Price Surge</a></li>
 <li><a href="https://cryptonewsland.com/pepe-bullish-momentum-signals-40-price-surge-amid-market-revival/" rel="noopener noreferrer nofollow">PEPE: Bullish Momentum Signals 40% Price Surge Amid Market Revival!</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inu-whale-activity-surges-can-shib-reclaim-0-00001/" rel="noopener noreferrer nofollow">Shiba Inu Whale Activity Surges: Can SHIB Reclaim $0.00001?</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inu-rockets-13-surge-and-golden-cross-signal-big-gains-ahead/" rel="noopener noreferrer nofollow">Shiba Inu Rockets: 13% Surge and Golden Cross Signal Big Gains Ahead!</a></li>
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The post <a href="https://cryptonewsland.com/shiba-surges-while-whales-fuel-bullish-momentum-whats-next/" rel="noopener noreferrer nofollow">Shiba Surges While Whales Fuel Bullish Momentum: What’s Next?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Shiba Surges While Whales Fuel Bullish Momentum: What’s Next?

Crypto News Land

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