Shiba Inu Surges 2.035% as Technical Indicators Suggest Bullish Trend

Shiba Inu's latest price was $0.00001185, up 2.035% in the last 24 hours. The cryptocurrency has recently shown signs of a potential trend reversal, with technical indicators suggesting a shift in momentum. Technical analyst Javon Marks has highlighted that SHIB is forming a bottoming structure, with the MACD divergence building under a certain price level. This divergence is evident across multiple timeframes, with the MACD histogram printing higher lows. Marks explains that the price structure holds support at a specific level, while the MACD lines are tilting positively, with histogram bars flipping from red to green. This formation suggests that SHIB could experience a significant upward movement, potentially driving the price nearly 180% higher.

The chart analysis reveals two distinct swing lows that align with increasing momentum, creating a textbook divergence structure. Although the volume remains controlled, the transition reflects increased accumulation at current levels. Marks further notes that the price is attempting to base near a specific level as buyers slowly reclaim territory. This breakout above a descending trendline at a certain price level has strengthened the argument for a near-term rally continuation.

Another confirmation of SHIB's bullish momentum comes from its breakout above a descending trendline, which formed at a specific price level. This breakout was followed by steady bullish pressure into another price zone. A separate SHIB chart shows the breakout candle closing above the diagonal resistance, supported by tight bid-ask levels. The breakout zone now acts as a new intraday pivot, with SHIB attempting to reclaim higher levels of growing interest.

The next leg of SHIB's bullish outlook will depend on volume traction and short-term sentiment rotation. SHIB appears to have exited compression mode, as reflected by the hourly candle behavior around the breakout. Buyers may drive continuation into overhead resistance if liquidity continues flowing into SHIB-based trades. With volume building, SHIB holds structural strength as momentum tilts toward buyers. This breakout may define the next leg for Shiba Inu’s bullish outlook.

The Shiba Inu ecosystem observed a significant surge in token burn activity, with the burn rate increasing by an exceptionally large percentage within a recent 24-hour period. This sharp rise resulted in more than 1 billion SHIB tokens being permanently removed from the circulating supply. The concerted efforts to reduce the token supply through these burns remain a key focus within the project's strategy.

Alongside the burn activity, Shiba Inu's dedicated layer-2 blockchain solution, Shibarium, continues its development trajectory. Reports indicate that Shibarium is steadily gaining traction within the ecosystem, highlighting ongoing efforts to enhance its functionality and adoption. The network's evolution represents a crucial technical advancement supporting the broader Shiba Inu project.