Shiba Inuโs (SHIB) rollercoaster ride in April has been highlighted with the spike to $0.00001510 on April 26, 2025. However, Shiba Inu bulls werenโt able to break through the largest resistance level containing over 90% of all Shiba Inu (SHIB) coin circulation.
Is Shiba Inu Geared Up For Price Breakout?
The break above the lower resistance, which is around the monthly high area, could accelerate Shiba Inuโs market value to a 100% rally. Further on, the higher resistance of $0.000019 aligns with a breakout from the 539.75 trillion Shiba Inu (SHIB) resistance bubble, where this volume is spread across 152.75K crypto wallet addresses.
According to Market Spotter, the restoration of $0.000015 Shiba Inu (SHIB) price levels could be pivotal in determining the trend for the upcoming months. Thatโs because only 39% of the dog-styled meme coin’s custodians are making a profit at the current price range, while taking a swing above $0.000015 would put the majority of Shiba Inu (SHIB) holders in profit.
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Ultimately, this raises the odds of Shiba Inu (SHIB) flipping the massive 539.75 trillion Shiba Inu resistance wall into major support. For that to happen, crypto whale buying power shall be met with renewed retail interest, which is definitely on the cards due to the broader crypto market sentiment switching recently losing the fear & switching back to greed.
Presently, the Japanese guard dog-embossed meme coin is trading in a narrow 24-hour channel between $0.0000133 to $0.00001375, depicted in grey color in the graphic above from IntoTheBlock. Amidst this consolidation, some whales are coming back to grab some more, as observable in the Chaikin Money Flow (CMF) metric regaining positive values today.
On The Flipside
- Shiba Inu is up over 10% in a monthly perspective, but the low figures in the Stochastic Relative Strength Index (StochRSI) point to a massively oversold position despite dwindling trading volumes.
- Hanging around 11 to 9, the StochRSI meter implies that Shiba Inu coin price is trading well below its rational market value, even though this metric pointed in the opposite direction just a few days back.
Why This Matters
Technical implications are as crucial as general market sentiment, often closely correlating to establish a long-term trend.
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