Usman Salis
Shiba Inu (SHIB) shows signs of a breakout as traders eye a major price move. The meme coin has recently broken out of a descending trendline on the chart, igniting bullish sentiment across the crypto community. SHIB is “ready to takeoff,” with price momentum and trading volume starting to tick upward.
As of the latest chart data, SHIB is trading at $0.00001288, up +3.04% over the last session. Traders are now watching closely for a potential move toward $0.0001, a key psychological level that could act as the next resistance.
Shiba Inu Price Action Signals Potential Takeoff
Shiba Inu (SHIB) has captured market attention again as the memecoin shows signs of breaking free from a multi-week downtrend. SHIB has broken above a descending resistance line, closing at $0.00001288 at 07:15. This marks a +3.04% gain on the day, as per the Binance chart.
Technical Breakout Adds Fuel to the Rally
The price action shows SHIB overcoming sustained downward pressure, with the buy-side quote at $0.00001289 and sell-side at $0.00001288, indicating tight spreads and active demand. This breakout comes after an extended period of lower highs and lower lows, now potentially reversing into a new uptrend.
Volume remains steady, signaling real interest behind the breakout. If momentum holds, traders are watching the $0.00001500 and $0.00002000 levels as next key resistance zones. A breakout toward $0.0001 — would require significant bullish continuation, but current signals show early optimism.
Usman Salis
