Details of the Crucial Next Resistance for Shiba Inu (SHIB)

Hey there, fellow crypto enthusiasts! Let’s talk about Shiba Inu and its exciting price movements. It’s getting close to some crucial resistance levels, which could determine where it goes next. The 26-day EMA and the 50-day EMA are the targets to keep an eye on for SHIB’s price in the near future.

Currently, SHIB is trading at around $0.00002379. The price has been stuck in a descending triangle pattern, but there are hints of a potential breakout. The first hurdle is the 26-day EMA at $0.00002385, followed by the 50-day EMA at roughly $0.00002527.

If we look at the trading volume, we see a lot of activity lately, especially with buyers stepping in during recent dips. This could mean that investors are scooping up SHIB at lower prices, setting the stage for a possible breakthrough. The Relative Strength Index is sitting around 45, indicating that SHIB is in a balanced zone, with room for growth.

Check out this SHIB/USDT Chart by TradingView

Looking at on-chain data, we see a rise in large transactions and their volumes over the past month. On May 13 alone, there were 280 significant transactions, totaling 9.6 trillion SHIB. This whale activity signals some serious moves.

In the last 24 hours, there have been 206 large transactions worth 3.88 trillion SHIB. This spike in activity indicates strong interest from big players in the market. If this trend continues, we could see SHIB gaining momentum and breaking out.

With all this in mind, it’s possible that SHIB might see some significant changes in the next day. Keep an eye on those 26-day and 50-day EMAs. If SHIB manages to break through these levels with solid trading volume, it could mark a turning point and kick off a new upward trend. Exciting times ahead!

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