Shiba

bullish

Bitcoin

Resistance

Shiba Inu

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-shib-price-surges-and-faces-resistance-levels/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Price Surges and Faces Resistance Levels</a> 
<a href="https://en.coin-turk.com/shiba-inu-sees-significant-price-increase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu (<a href="https://en.coin-turk.com/shiba-inu-shibarium-surpasses-an-important-threshold-good-news-for-shiba-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SHIB</a>) experienced a significant price increase of over 64% in the past six days, marking its largest weekly gain since February 2024. This surge coincided with Bitcoin surpassing its all-time highs and the total market capitalization of <a href="https://en.coin-turk.com/bitcoin-and-major-altcoins-respond-to-fed-and-boj-decisions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a> reaching $2.915 trillion, bringing it closer to the record of $3.006 trillion set in 2021.
<h2 style="text-align: justify" id="strong-shib-price-stalls-will-the-upward-trend-continue-strong">SHIB Price Stalls: Will the Upward Trend Continue?</h2>
Currently, SHIB struggles to break through a strong resistance level around $0.00002750. When this resistance was approached, the price saw an increase in volume, yet some traders opted to take profits, leading to a temporary stall in SHIB’s ascent.
<h2 style="text-align: justify" id="strong-critical-price-levels-for-shib-is-the-target-0-000046-strong">Critical Price Levels for SHIB: Is the Target $0.000046?</h2>
After reaching its local peak at $0.00002804, Shiba Inu faced substantial profit-taking. This sell-off confirmed previous resistance levels, indicating potential upward momentum in price predictions. One market analyst estimated a near 70% increase for SHIB, potentially testing the $0.000046 mark in the coming days.
According to Coingecko data, SHIB’s trading volume surged by 255% in the last 24 hours, indicating increased investor interest that supports the upward trend. Coinalyze also noted a 19.31% increase in SHIB’s open positions, suggesting that traders are taking long positions on the meme coin, providing positive signals for SHIB’s price.
Santiment data revealed that daily active addresses are at their highest level in over eight months, reflecting increasing market interest and activity on the network, which points towards a long-term bullish trend for SHIB.
If SHIB can surpass the current resistance levels, it may reach $0.000046, aligning with previous annual peaks. A potential resistance area, as indicated by the Fibonacci extension level, is at $0.00006088.
Conversely, if the price fails to break through the established resistances and falls below $0.00001811, SHIB’s value could drop to $0.000015 or even $0.000012.
The upward trend for Shiba Inu may continue based on market data and analyses, as traders closely monitor the defined resistance levels to evaluate SHIB’s future movements.
The post <a href="https://en.coin-turk.com/shiba-inu-shib-price-surges-and-faces-resistance-levels/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Price Surges and Faces Resistance Levels</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Shiba Inu (SHIB) Price Surges and Faces Resistance Levels

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