- Shiba Inu price bounced back, and increased by 10% in the last 24 hours.
- SHIB price breaks above the 50-day EMA mark heading towards the 200-day EMA mark.
In recent trading sessions Shiba Inu (SHIB) price has shifted its gears from bearish mode to bullish mode. SHIB price surged by 10% in the last 24 hours and 18% over the last week showcasing bullishness. The recent rally boosted the confidence of investors and pushed the price into bullish territory.
Shiba Inu’s price has been trading in a bearish grip for a prolonged time. In early December, it touched a high of $0.00003337 and then halted as buyers failed to maintain the bullish momentum. Since then, the price has been under bearish pressure breaking below the 50-day and 200-day EMA marks.
However, recently SHIB’s price bounced from the $0.00001143 level and headed in the upper direction. The bullish rally is looking reliable as trading volume is also increasing with the price.
According to CMC data, at the time of writing SHIB’s price is trading at $0.00001479 with an intraday surge of 10% indicating bulls’ dominance.
Will the Shiba Inu Price Break Above the 200-day EMA Mark?
Currently, SHIB price has broken the 50-day ($0000.1457) EMA mark and is heading towards the 200-day ($0.00001797) EMA level, which is a positive sign. On the other hand, in the 4-hour time frame, it broke the 50-day and 200-day exponential moving averages showcasing positive momentum.
Key indicators such as MACD and RSI are also on the positive side. MACD is heading in the upper direction with a green histogram. Additionally, the RSI is also in the positive zone at 61.50 suggesting bullish sentiments.
If Shiba Inu’s price succeeds in breaking the $0.00001797 mark then investors might witness a fresh bullish rally in the upcoming days.
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