- Shiba Inu price has hurdled a key indicator that could catalyze a 20% rally.
- This month, millions of SHIB tokens have been burned, creating speculation around the notorious meme coin.
- Invalidation of the bullish outlook is a breach of the newly established swing low at $0.00001000
Shiba Inu price has rebounded after losing 30% of market value in September. More uptrend is possible. Key levels have been identified to keep track of the developing trend.
Shiba Inu price shows retaliation signals
Shiba Inu price shows a potential to move higher as the bulls have successfully hurdled the 8-day exponential moving average at $0.00001107. A classic retest-and-rally signal is displayed on higher time frames from the moving average, likely to pour an influx of volatility into the market.
Shiba Inu price currently auctions at $0.00001143 as the bulls are attempting to hurdle the 21-day simple moving average (SMA). A hurdle of the SMA could be the buy signal sidelined investors are looking for.
SHIB USDT/ 12-Hour Chart
The early bullish signals are accompanied by newfound positive market sentiment. According to FXStreet’s News Report Ekta Mourya, 132 million Shiba Inu tokens were destroyed. The coins were sent to the dead wallet address, permanently removing them from circulation.” The burning of SHIB tokens directly affects basic supply and demand principles. The act alone is enticing retail traders to place orders. Based on these factors, it is possible the sacrificial gesture could catalyze the next Shiba Inu bull run.
\If the market is genuinely turning bullish, a rally towards the September high at $0.00001401 is a reasonable target. The rally would result in 20% of the current Shiba Inu price.
Invalidation of the uptrend depends on the September lows of $0.00001000 remaining unbreached. If the newly established lows were broken, the bears would likely take control and target liquidity levels near $0.00000800, resulting in a 30% decrease from the current Shiba Inu price.
In the following video, our analysts deep dive into the price action of Shiba Inu, analyzing key levels of interest in the market. -FXStreet Team
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto fraud soars as high-risk addresses on Ethereum, TRON networks receive $278 billion
The cryptocurrency industry is growing across multiple facets, including tokenized real-world assets, futures and spot ETFs, stablecoins, Artificial Intelligence (AI), and its convergence with blockchain technology, as well as the dynamic decentralized finance (DeFi) sector.
Bitcoin eyes $100,000 amid Arizona Reserve plans, corporate demand, ETF inflows
Bitcoin price is stabilizing around $95,000 at the time of writing on Tuesday, and a breakout suggests a rally toward $100,000. The institutional and corporate demand supports a bullish thesis, as US spot ETFs recorded an inflow of $591.29 million on Monday, continuing the trend since April 17.
Meme coins to watch as Bitcoin price steadies
Bitcoin price hovers around $95,000, supported by continued spot BTC ETFs’ inflows. Trump Official is a key meme coin to watch ahead of a stakeholder dinner to be attended by President Donald Trump. Dogwifhat price is up 47% in April and looks set to post its first positive monthly returns this year.
Cardano Lace Wallet integrates Bitcoin, boosting cross-chain capabilities
Cardano co-founder Charles Hoskinson announced Monday that Bitcoin is integrated into the Lace Wallet, expanding Cardano’s ecosystem and cross-chain capabilities. This integration enables users to manage BTC alongside Cardano assets, providing support for multichain functionality.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.