Shiba Inu (SHIB) Stays Jittery As This Key Bullish Move Plots

Things are definitely starting to change for Shiba Inu (SHIB), and an aggressive sell-off in the ecosystem is now gradually starting to fade. By According to data from CoinMarketCap, Shiba Inu is changing hands for $0.000009605, with a counterbalancing growth rate showing that the actions of the market bulls now match those of the bears.

Shiba Inu trading volume is also breaking out of the red zone, rising 1.3% to $108,181,442 in 24 hours. Shiba Inu on-chain insights show that the token is on the edge as it can easily turn towards the bullish zone if the bulls were to push a little further beyond the current whale action.

The relative strength index (RSI) of the token on the daily chart is 46, which shows that it is in the neutral zone and can easily be shaped by an additional wave of buying to change course. The Moving Average Convergence Divergence (MACD) indicator is also displaying intermittent signals showing that the MACD line is looking to cross above the signal line, a move that will show significant momentum towards new highs.

Bullish changes are coming for Shiba Inu

Since Shiba Inu lost a zero recently, it has been trying its best to come back and break the resistance wall at the $0.00001 level. This fight has been marked by a general inconsistency in the market that has seen the price of Bitcoin consolidating between the prices of $42,000 and $43,500.

Shiba Inu’s attempt to print a solo ride has been masked by declining trading volume, as well as a slowdown in Shibarium’s burn rate and daily transaction count. These are indicators that generally show the health of the Shiba Inu network and, as part of the ongoing revival push, are signaling impressive bullish swings.

Overall, Shiba Inu bulls are ready for the next big breakout, and a small trigger is anticipated to achieve this goal.