SHIB Eyes Key Breakout As Bitcoin Surges Ahead

The Shiba Inu (SHIB) memecoin shows encouraging signs of recovery with an 8.6% growth over the past seven days. While Bitcoin continues to lead the crypto bull market, SHIB is attempting to break through a major technical resistance that could determine its trajectory in the coming weeks.

SHIB rises 8.6% and tests a major barrier

Shiba Inu is currently trading at $0.00001292, after rising 1.94% in the last 24 hours, according to CoinMarketCap data. The canine crypto now faces a significant psychological resistance at $0.000013, a level it has not been able to sustainably break through for several weeks.

Trading volume surged 14.44%, reaching $173.83 million, showing a significant renewed interest from investors. This increase in activity comes at an opportune moment to support a potential bullish breakout.

The SHIB community is actively contributing to this positive momentum through its deflationary mechanism. A spectacular burn rate of 3,227% was recently recorded, with 888.4 million tokens destroyed via the ShibTorch platform. This reduction of circulating supply aims to exert upward pressure on the price in the medium term.

Technical and fundamental signals aligned for a possible surge

Technical indicators offer encouraging prospects for SHIB. Weekly Bollinger Bands show a significant tightening, a setup that often precedes major price movements. Some analysts even mention a potential increase of 100% if this technical formation confirms.

“Whale” activity has also seen a notable awakening with a 95.91% increase in large transaction volume. This renewed institutional investor interest generally represents a bullish signal for the future of a crypto.

Despite these positive prospects, the overall context remains mixed. A recent report indicates that 82.96% of wallets holding SHIB are currently at a loss, illustrating the challenges the community faces after the sharp correction in the memecoin market.

The ongoing development of the Shibarium ecosystem, which has surpassed one billion transactions, nevertheless provides a solid fundamental base. Some analysts like Javon Marks maintain optimistic projections, mentioning a target of $0.000081 (i.e., +550%).

To break the current resistance at $0.000013, SHIB will need to maintain this favorable combination of increased trading volume, sustained burn activity, and ongoing technical development of its ecosystem in the wake of the Bitcoin rally.