Usman Salis
Shiba Inu (SHIB) has returned to the spotlight with a strong surge above $0.000014, breaking out of weeks of sideways trading. The rally has reignited trader interest and sparked renewed optimism about the meme coin's potential for additional gains in the near term.
Shiba Inu Extends Gains After Dip-Buying
The token has delivered an impressive recovery that's rewarded those who bought during the recent pullback. Famous trader SHIB KNIGHT noted that the meme coin is "pumping" again as positive sentiment spreads across the crypto market.
This rebound demonstrates SHIB's characteristic ability to generate significant trading volume when market conditions shift, solidifying its position as one of the most volatile yet closely monitored altcoins in the space.
Chart Analysis: Key Levels in Focus
Several critical technical developments are worth noting:
- Resistance Test: SHIB is currently trading at $0.00001404, approaching a crucial resistance zone that could determine the next direction
- Support Confirmation: The rally gained strength around $0.00001200, establishing this as a reliable support level for future reference
- Bullish Structure: Price action displays higher lows and clean upward momentum, indicating renewed bullish sentiment
- Volume Expansion: Recent green candles accompanied by increasing volume suggest growing trader confidence
A successful break above current resistance could target the $0.00001500–$0.00001600 range, while maintaining support near $0.00001200 remains crucial for continued upside momentum.
Drivers Behind SHIB's Rally
The current surge appears supported by multiple factors. Positive momentum in Bitcoin and Ethereum has created favorable conditions for altcoins, particularly meme tokens that tend to amplify broader market moves. SHIB's strong retail following continues to drive sudden price spikes during hype cycles, while on-chain data reveals larger wallets accumulated positions during the recent dip, adding credibility to the recovery narrative.
What's Next for SHIB?
Shiba Inu's latest move higher showcases the meme coin's resilience and quick recovery potential after sharp corrections. Bulls need to secure a daily close above $0.00001400 to target the next resistance zone around $0.00001550–$0.00001600. However, if current levels fail to hold, SHIB could revisit support between $0.00001300–$0.00001200. The next few trading sessions will be critical in determining whether this momentum leads to a sustained breakout or returns the token to range-bound trading.
Usman Salis
