Key Takeaways
- Shiba Inu price surged 13%, reclaiming $0.000015** as trading volume spiked from **$200M to $619M.
- 4-hour chart breakout: SHIB exited a descending trendline, with bullish signals on the Awesome Oscillator (AO).
- Daily chart uptrend: Rising RSI within an ascending channel supports a potential rally to $0.000019.
Surging Volume Signals Strong Bullish Momentum
Shiba Inu (SHIB) is demonstrating renewed strength, mirroring its 2021 bull market breakout. Over the past 24 hours:
- Price jumped 13% to $0.000015, a target anticipated by analysts.
- Trading volume skyrocketed 250% to $619.55M, reflecting heightened investor confidence.
👉 Why SHIB’s volume surge matters for traders
Technical Breakdown: 4-Hour Chart
- Breakout confirmed: SHIB breached a descending trendline (April 25–May 6).
- Bullish indicators: Consistent green bars on the AO suggest strengthening momentum.
- Critical resistance: A sustained uptrend could challenge $0.000019.
SHIB/USD 4-Hour Chart | Source: TradingView
Daily Chart Reinforces Uptrend
SHIB’s higher lows and highs since May 6 reveal an ascending channel, bolstered by:
- RSI uptick: Signals bullish momentum.
- Golden ratio target: $0.000019 (0.618 Fibonacci level).
- Long-term potential: With broader market support, $0.000025** is feasible if **$0.000022 resistance breaks.
Risks:
- Bearish reversal could drive price down to $0.000010.
- Volume decline may weaken the rally.
FAQ: Shiba Inu’s Price Rally
Q1: What caused SHIB’s recent price surge?
A: Combined factors: rising volume, breakout from a downtrend, and broader crypto market recovery.
Q2: How high could SHIB go in 2024?
A: Technically, $0.000019–$0.000025 if bullish conditions persist.
👉 Explore memecoin trading strategies
Q3: Is SHIB’s volume surge sustainable?
A: While promising, monitor market sentiment and BTC trends for confirmation.
Disclaimer:
This content is informational only. Cryptocurrency investments are high-risk—conduct independent research or consult a financial advisor.