Shiba Inu (SHIB) demonstrated a robust recovery despite experiencing sharp price movements during the last trading day, managing to recover investor confidence. The price initially fell to the 0.0000143 level but quickly gained upward momentum. The significant volume of transactions highlighted renewed institutional interest in the token. This strong support in SHIB’s technical outlook may signal the beginning of a new upward trend.
Strong Resistance at Critical Levels and Volume Boost
In the past 24 hours, SHIB’s price increased from the 0.0000146 level to the 0.0000150 band, marking a rise of approximately 2.85%. The most notable moment occurred around 17:00 when the price suddenly dropped to 0.0000143. Subsequently, the volume surged nearly fourfold, reaching an enormous transaction size of 2.83 trillion. This volume increase points to activity likely originating from large institutional buyers, rather than individual investors.
The price managed to hold its position at the psychologically significant level of 0.000015. During this phase, the 0.0000151 level was tested twice, and three consecutive high-volume candlesticks towards the end of the day solidified this level. At 01:22, the price surged to 0.00001514 as noticeable volume increases supported the upward movement. At 01:36, an additional volume of approximately 80 billion provided critical data backing the upward momentum.
Post-Correction Consolidation and New Expectations
Within short-term movements, SHIB’s price experienced a 5% correction starting at 01:37, retreating to the 0.00001505 level. Rather than causing panic, this pullback paved the way for a consolidation phase. The tightening observed in technical analyses indicates investors adopting a cautious waiting stance after rapid movements. This region might be the starting point for a potential new upward wave for investors.
According to analysts, SHIB has recently exhibited similar price behaviors. Regular accumulation and resistance tests attract interest from both small investors and large funds. On-chain indicators support this scenario, with a notable increase in SHIB accumulation rate and burning amounts. An analysis published in Coin Edition suggested these indicators could lay the groundwork for a strong rally. Commentators at The Crypto Basic proposed that a potential breakout in SHIB could generate more investor interest.
