- Shiba Inu (SHIB) has surged over 11%, breaking a key resistance level and erasing recent losses amid a broader crypto market rally.
- Analysts are watching closely as 531 trillion SHIB hover at a major resistance zone, with a breakout potentially triggering a sharp move toward $0.000022.
Shiba Inu (SHIB) is back in the spotlight as bullish momentum builds across the crypto market. Fueled by a broader rebound led by Bitcoin’s surge from $88,000 to over $94,000, SHIB has climbed more than 11%, surpassing key resistance levels and signaling a possible explosive move ahead.
SHIB Clears Critical Resistance as Altcoins Shine
After three days of consolidation, Shiba Inu broke out in Tuesday’s trading session, finally pushing above the daily SMA 50 at $0.00001252—a barrier that had capped its price since December 2024. The move marked a crucial technical milestone, with SHIB hitting intraday highs of $0.00001392 on Wednesday and holding most of its gains at $0.00001378, up over 10% in the last 24 hours and 19% on the week.
This breakout has not only reversed recent losses but also positioned SHIB for a potential next leg upward, particularly as investor sentiment strengthens across the crypto space.
The 531 Trillion SHIB Wall: Bullish Momentum Builds
According to IntoTheBlock data, an eye-popping 537.8 trillion SHIB tokens are currently held between the $0.000014 and $0.000019 price range—representing a massive resistance zone watched closely by analysts. This area, with an average holding price of $0.000016, includes roughly 145,160 addresses.
If bulls manage to push SHIB above this zone, it could unlock a significant upside, potentially invalidating months of bearish pressure. A successful breakout could propel the meme coin toward the $0.000022 mark, reigniting optimism among SHIB investors and enthusiasts.
Market Sentiment Shifts in SHIB’s Favor
Adding to the bullish backdrop, over $638 million in crypto derivatives were liquidated in the past 24 hours, with shorts making up over $563 million of that total. This unwinding of bearish bets suggests a clear sentiment shift, particularly in altcoins like SHIB that are outperforming during the current rally.
While risks remain—especially in a volatile crypto environment—Shiba Inu’s recent performance and looming breakout point toward growing confidence and a potential turning point for the token.
As the market watches whether SHIB can break through the massive 531 trillion token barrier, one thing is certain: momentum is building, and Shiba Inu may be preparing for its biggest move yet.
