Shiba

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Shiba Inu

With a bullish failure to regain a decisive rally, the top meme coins are facing massive overhead supply pressure. Amid the bear market, Shiba Inu price action reveals a constant struggle to overcome the bearish influence.&nbsp;   
Will the second biggest meme coin in the crypto space manage to kickstart a breakout rally? Read this SHIB price analysis for more details.   
<h2 class="wp-block-heading" id="h-shiba-inu-price-performance">Shiba Inu Price Performance</h2>   
With a market cap of $10.05 billion, the Shiba Inu token is currently trading at $0.00001706. In the past 24 hours, the SHIB meme coin has dropped by 2.80%.&nbsp;   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/10/10172703/vtXVitPf-1024x511.png" alt="Shiba INu price chart" class="wp-image-363421">
</figure>   
<a href="https://www.tradingview.com/x/vtXVitPf/" target="_blank" rel="noreferrer noopener">Tradingview</a>   
In the daily chart, the Shiba Inu price action reveals a major overhead resistance trendline, keeping the bullish growth in check. Currently, the recent bear cycle from the overhead trendline took support at the 50-day EMA before forming a bullish engulfing candle of 8.21% on October 4.&nbsp;   
Technical indicators:   
RSI: The daily RSI line reveals a sideways trend slightly above the halfway line, ready for a bullish reversal.&nbsp;   
EMA: The gradual rise in bullish influence teases a golden crossover between the 50-day and 200-day EMA. Hence, the momentum indicator reveals a surge in buying pressure.&nbsp;&nbsp;   
<h2 class="wp-block-heading" id="h-will-shib-price-reclaim-0-000025">Will SHIB Price Reclaim $0.000025?</h2>   
The recovery rally failed to surpass the 23.60% Fibonacci level at $0.00001908, resulting in a pullback to the 200-day EMA. Currently, it is trading with an intraday gain of 1.22%, sustaining dominance above the 200-day EMA.&nbsp;   
Hence, the technical indicators are projecting a bullish possibility. Based on the Fibonacci levels, the trendline breakout will likely result in a price jump to the 50% or 78.60% Fibonacci level at $0.000026 or $0.000033, respectively.&nbsp;   
On the flip side, the crucial supports are present at the 50-day EMA at $0.00001583 and $0.00001421 support levels.   
Curious to know if Shiba Inu will make a bullish comeback? Read Coinpedia’s <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/" target="_blank" rel="noreferrer noopener">SHIB price prediction </a>to find out the next bullish targets!

Will Shiba Inu Take A 46% Breakout Route to $0.000025?

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