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SHIB Shiba Inu rose 4%, increasing its market value by US$425 million, targeting a key resistance level of US$0.0000500.
Shiba Inu, known for its meme-driven origins, is now among the largest altcoins by market capitalisation. In recent weeks, the token has experienced one of the most significant short-term price reversals. Shiba Inu rose nearly 4%, rebounded from the opening price of US$0.0000474 to US$0.0000493 in the latest trading session, increasing its market value by approximately US$425 million.
Momentum strengthens, buying pressure reappears
Unlike the trading situation in early August, when trading was sluggish and volatility was low, this round of rise in Shiba Inu Co. was accompanied by a sharp rise in momentum indicators and a significant increase in trading volume. Recent trends have pushed Shiba Inu back above the short-term moving average, marking a key technical shift for the asset.
After breaking through the moving averages around US$0.0000450 and US$0.0000460, Shiba Inu is currently facing a major test of the resistance range of US$0.0000489 to US$0.00000500. Since early August, this price range has served as the top many times, suppressing multiple rounds of upward attempts. If it can continue to exceed US$0.0000500, it not only means that prices have reached a new level, but also indicates a reversal of the downtrend for several months.
Key price levels:
0.0000450 - 0.0000460-Recently recovered support
0.0000489 - 0.0000500-Current key resistance
0.00000574-Major long-term moving average
The technical performance of the momentum indicator is clearly visible. The daily Relative Strength Index (RSI) has jumped from below 50 to nearly 61, entering bullish territory, but has not yet reached overbought levels. These signs indicate that buying interest is growing, but some caution is still needed.
Exchange capital flows and on-chain activity
However, on-chain data reflects mixed dynamics. Net flows remain deeply negative, with a total of approximately 207.3 billion SHIBs flowing out of the exchange. Exchange reserves also fell 0.24%, which could mean fewer tokens available for sale in the short term, helping to limit seller pressure.
At the same time, total inflows reached approximately 523.1 billion SHIBs, and the seven-day average of exchange inflows climbed 23.8%. If these tokens are transferred to an exchange for trading, the larger inflow may eventually put pressure on sellers. Some activity indicators also showed an increase, with both the number of active addresses and the number of received addresses increasing by approximately 1.2%.
Technical breakthrough or temporary rebound?
Although technical support appears solid, analysts pointed out that it is too early to confirm a larger trend reversal in SHIB. The token is still below its long-term moving average of $0.0000574. The $0.00000500 mark is an important turning point. If they can continue to trade above this level, bulls may turn their next targets towards $0.000055 and $0.0000575.
If SHIB fails to remain above resistance, the previous support area of US$0.0000460-US$0.0000450 may come under pressure again. In this case, the recent market value growth may be limited to a short-term relief rebound rather than a continued rise in cryptocurrencies.
Shiba Inu's recent breakthrough, accompanied by increased momentum and increased inflows, is testing the key US$0.0000500 resistance level-however, as the token is still well below its long-term average, there is still uncertainty about the confirmation of a comprehensive trend reversal.
