Shiba Inu prices soared 17%, the largest one-day increase since November 2024

Shiba Inu Coin (SHIB) hits its largest one-day gain since November 10, 2024.

In the past 24 hours, Shiba Inu Coin has soared nearly 17%, which is the strongest one-day gain since November 10, 2024. The token price once hit a local high of US$0.0000517, and then fell back to around US$0.00000486. The rally pushed the market value of SHIB to approximately US$2.86 billion, with trading volume close to a trillion tokens, a level of participation unseen in weeks. Buyers regained ground held by sellers for most of the month.

SHIB Overview

Price: US$0.00004856
24-hour change: +17%(as of writing)
Market value: US$2.86 billion

145 billion tokens left the exchange, igniting a rise

The driving factor for the rise comes from on-chain data. In the past day, approximately 145.2 billion SHIBs were transferred from centralized exchanges to private wallets, a transfer that reduced the pool of tokens available for sale. Tokens in private wallets cannot be sold at any time when the market rises, so large withdrawals weaken sell orders that usually limit sudden gains and provide more room for buying pressure. When supply on exchanges falls and demand rises, prices tend to go further for the same demand.

The correction is too shallow and the seller has not yet taken the lead

Before the breakthrough, the 20th and 50th index moving averages (EMA) had leveled off around US$0.000043 and moved closer to each other, which technically suggests that the market has calmed down and prices are consolidating. The breakthrough candle chart broke through these two moving averages in one fell swoop, accompanied by a transaction volume of nearly 996 billion coins, confirming that the rise was driven by real funds rather than a brief surge in light transactions. The price is currently trading around $0.00004856, slightly below the 0.236 Fibonacci retracement level of $0.0000491.

The pullback is still shallow and has not even touched the 0.382 retracement level of US$0.00000474. This reluctance to give up gains is more important than the gains themselves-sellers are not yet in control. Looking at momentum indicators, the 14-cycle Relative Strength Index (RSI) hit 73 at its peak, which indicated that the market was overbought and was prone to a short break; then the indicator fell back to 53 and then rebounded to 73. The second time momentum exerts rather than decays, indicating that buying has not been exhausted.

The key price to determine the next move

The Fibonacci retracement line is drawn from a band low of US$0.0000405 to a high of US$0.0000517, creating a key price with great weight. The 0.786 retracement level is at $0.0000429, right above the 50-day moving average (EMA) and the top edge of the summer trading range. Three different reasons converge in the same area around $0.000043, making it a line of defense that buyers must hold should the rally recedes. 0.5 The intermediate pullback position of 0.618 and 0.618 is suspended in the area of unsupported structures and is much less meaningful as a reference point.

Key Price List:

High point: US$0.0000517-Untested resistance level and top of the forecast range
0.236 Fibonacci: US$0.0000491-The recent suppression level, with prices currently below it
0.382 Fibonacci: US$0.00000474-The first real test of the depth of the correction
20-day moving average: US$0.00000438--Short-term support on which the current rally relies
0.786 Fibonacci and 50-day moving average: US$0.00000429--The confluence point with the upper edge of the range, bulls must hold on to the low point of this line
band: US$0.0000405--The bottom of the band that generated this round of high

If US$0.000043 falls, where will the SHIB go?

If the daily line closes above and holds US$0.00000517, the token will return to areas it has not been touched for weeks and open up space for the next resistance band. If this resistance is not exceeded, prices are likely to fall back to the convergence area of $0.000043, when buyers 'reactions will distinguish whether this is a real confidence or a short-term speculative burst. The 1-hour chart has shown a decline of 1.71%, an early signal that the first round of profit-taking has begun. For traders concerned about capital outflows, the real test will be whether the withdrawn coins will remain in private wallets when market enthusiasm fades, or will flow back to the exchange as prices rise slightly.

At present, the overall environment for memein is still holding a low ceiling, market funds continue to flow to larger and more mature assets, and tokens like SHIB and DOGE are driven more by emotions rather than capital flows. Even with its largest one-day gain since November 10, 2024, Shiba Inu is still below its 200-day moving average. Recovering this long-term moving average-rather than any short-term Fibonacci level-is what is needed for a real shift in trends.