Shiba Inu has shown us that it has the potential to break out after the 10% rise and a move above the 50 EMA threshold. However, despite the recovery, numerous data show that it is not enough, especially since we do not see any continuation at the current time.
Shiba Inu has shown us that it has the potential to break out after the 10% rise and a move above the 50 EMA threshold. However, despite the recovery, numerous data show that it is not enough, especially since we do not see any continuation at the current time.
The recent price chart indicates that while SHIB managed to break above the 50 EMA, it struggled to maintain momentum. The volume spikes accompanying the price increase were notable, suggesting increased trading activity. However, these peaks did not hold, reflecting a lack of consistent buying pressure necessary for a sustained breakout.
Chain signals present a mixed picture. Net network growth and the percentage of addresses in profit (“In the Money”) show upward trends, indicating some positive sentiment and network activity. However, the concentration metric is slightly bearish, suggesting that the asset could still be under the influence of a few large holders, which could lead to price manipulation or sudden liquidations.
Arman ShirinyanExchange signals offer a slightly more optimistic view. The smart price metric and the supply-ask volume imbalance are both bullish, indicating that trading activity on the stock market is currently favorable. The supply and demand volume imbalance, in particular, shows a significant bullish tilt of 6.69%, which could imply strong demand at current price levels.
Despite these positive indicators, the lack of follow through in price action and the signal of bearish concentration highlight the challenges facing SHIB. For a more decisive bullish breakout, SHIB would need to overcome the 200 EMA resistance and attract sustained buying interest. Broader market conditions will also play a crucial role in determining whether SHIB can build on its recent momentum.
