{"id":541964,"date":"2023-07-10T12:10:30","date_gmt":"2023-07-10T12:10:30","guid":{"rendered":"https:\/\/wncen.com\/?p=541964"},"modified":"2024-06-11T07:50:13","modified_gmt":"2024-06-11T07:50:13","slug":"shiba-inu-shib-breakout-alert-potential-30-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-shib-breakout-alert-potential-30-rally\/","title":{"rendered":"Shiba Inu (SHIB) Breakout Alert: Potential 30% Rally Looming"},"content":{"rendered":"

The Shiba Inu (SHIB) price may be facing the most important moment this year, which could either push the price up another 30% or seal its stay in the bear market. For the SHIB bulls, now is the time to show their true strength.<\/p>\n

To recall: earlier this year, SHIB experienced a furious rally of close to 100%. But since the yearly high on February 4, at $0.00001597, the Shiba Inu price has been in a descending trend channel, which has even pushed the price well below the yearly opening price at around $0.000008.<\/p>\n

Over the past weekend, the long-awaited breakout from the descending trend channel took place. The Shiba Inu price broke above the top of the trend channel at $0.0000076 and managed to hold firm above this level on Sunday. However, some selling pressure can be observed today (Monday). A retest of the breakout from the trend channel is taking place.<\/p>\n

\"Shiba
SHIB price breakout or fakeout, 1-day chart | Source: SHIBUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

Based on this, it is now up to the SHIB bulls to confirm the trend and avoid a fakeout. If this fails, investors could quickly lose interest in Shiba Inu again and the price could fall towards the mid-range of the trend channel and the yearly low at $0.000006.<\/p>\n

Related Reading: Significant Surge: Large Shiba Inu Token Transactions Capture Spotlight<\/a><\/div>\n

If the breakout is confirmed, however, resistance at $0.00000833 could become the first target. At this price level, the 23.6% Fibonacci retracement level is also located.<\/p>\n

With the daily RSI currently sitting at 49, there is still much room left for an explosive move north which could send SHIB on a 30% rally towards the resistance area between $0.00000969 (200-day EMA) and $0.00000977 (38.2% Fibonacci retracement level), before the psychologically important level of $0.00001 is also within reach.\u00a0At this point, a breather from a possible rally can be expected.<\/p>\n

Bullish Case For Shiba Inu Price Prevails<\/h2>\n

Santiment, a renowned market intelligence platform, has highlighted the renewed interest in Shiba Inu, evident through a surge in whale transactions. Recent data reveals an astonishing 14 separate transfers exceeding $1 million each as of July 6, the highest level recorded since April 3 this year. Such significant movements of capital not only underscore the confidence of prominent investors but also serve as a testament to the growing trust and belief in the potential of the Shiba Inu ecosystem.<\/p>\n

\"Shiba
Shiba Inu whales getting active | Source: Twitter @santimentfeed<\/a><\/figcaption><\/figure>\n

A compelling factor contributing to the price rise of Shiba Inu also lies in the generation of new addresses within its network. As reported<\/a> by Bitcoinist, Shiba Inu has witnessed a substantial increase in the creation of daily addresses, consistently surpassing 2,500 per day in recent weeks. The month of June alone witnessed a staggering surge, with daily new addresses exceeding 4,000, marking an incredible 400% rise from the quarterly low in May.\u00a0The significance of this surge in new addresses cannot be underestimated. as it shows the renowned interest by retail investors.<\/p>\n

Related Reading: Breaking: Shiba Inu Lead Dev Reveals Shibarium Release Date, SHIB Up 3%<\/a><\/div>\n

Another factor amplifying Shiba Inu’s price upswing is the heightened anticipation of Shibarium. Enthusiasts and investors firmly believe that Shibarium’s launch will exert a substantial influence on the value of Shiba Inu’s ecosystem. With the official confirmation of Shibarium’s unveiling<\/a> at the upcoming ETHToronto conference in mid-August, the SHIB army is abuzz with anticipation and speculation.<\/p>\n

Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Shiba Inu (SHIB) price may be facing the most important moment this year, which could either push the price up another 30% or seal its stay in the bear market. For the SHIB bulls, now is the time to show their true strength. To recall: earlier this year, SHIB experienced a furious rally of close to 100%. But since the yearly high on February 4, at $0.00001597, the Shiba Inu price has been in a descending trend channel, which has even pushed the price well below the yearly opening price at around $0.000008. Over the past weekend, the long-awaited breakout from the descending trend channel took place. The Shiba Inu price broke above the top of the trend channel at $0.0000076 and managed to hold firm above this level on Sunday. However, some selling pressure can be observed today (Monday). A retest of the breakout from the trend channel is taking place. Based on this, it is now up to the SHIB bulls to confirm the trend and avoid a fakeout. If this fails, investors could quickly lose interest in Shiba Inu again and the price could fall towards the mid-range of the trend channel and the yearly low at $0.000006. Related Reading: Significant Surge: Large Shiba Inu Token Transactions Capture Spotlight If the breakout is confirmed, however, resistance at $0.00000833 could become the first target. At this price level, the 23.6% Fibonacci retracement level is also located. With the daily RSI currently sitting at 49, there is still much room left for an explosive move north which could send SHIB on a 30% rally towards the resistance area between $0.00000969 (200-day EMA) and $0.00000977 (38.2% Fibonacci retracement level), before the psychologically important level of $0.00001 is also within reach.\u00a0At this point, a breather from a possible rally can be expected. Bullish Case For Shiba Inu Price Prevails Santiment, a renowned market intelligence platform, has highlighted the renewed interest in Shiba Inu, evident through a surge in whale transactions. Recent data reveals an astonishing 14 separate transfers exceeding $1 million each as of July 6, the highest level recorded since April 3 this year. Such significant movements of capital not only underscore the confidence of prominent investors but also serve as a testament to the growing trust and belief in the potential of the Shiba Inu ecosystem. A compelling factor contributing to the price rise of Shiba Inu also lies in the generation of new addresses within its network. As reported by Bitcoinist, Shiba Inu has witnessed a substantial increase in the creation of daily addresses, consistently surpassing 2,500 per day in recent weeks. The month of June alone witnessed a staggering surge, with daily new addresses exceeding 4,000, marking an incredible 400% rise from the quarterly low in May.\u00a0The significance of this surge in new addresses cannot be underestimated. as it shows the renowned interest by retail investors. Related Reading: Breaking: Shiba Inu Lead Dev Reveals Shibarium Release Date, SHIB Up 3% Another factor amplifying Shiba Inu’s price upswing is the heightened anticipation of Shibarium. Enthusiasts and investors firmly believe that Shibarium’s launch will exert a substantial influence on the value of Shiba Inu’s ecosystem. With the official confirmation of Shibarium’s unveiling at the upcoming ETHToronto conference in mid-August, the SHIB army is abuzz with anticipation and speculation. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":541972,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[1096,83668,83667,87680,84562],"class_list":["post-541964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-breakout","tag-shib","tag-shiba-inu","tag-shibarium","tag-shibusd"],"acf":[],"yoast_head":"\nShiba Inu (SHIB) Breakout Alert: Potential 30% Rally Looming<\/title>\n<meta name=\"description\" content=\"Shiba Inu price may be facing the most crucial moment this year, which could either push the price up 30% or seal the bear market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu (SHIB) Breakout Alert: Potential 30% Rally Looming","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-shib-breakout-alert-potential-30-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-shib-breakout-alert-potential-30-rally\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1353098980.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1353098980.jpg?fit=2119%2C1414"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["breakout","shib","shiba inu","shibarium","shibusd"],"dateCreated":"2023-07-10T12:10:30Z","datePublished":"2023-07-10T12:10:30Z","dateModified":"2024-06-11T07:50:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu (SHIB) Breakout Alert: Potential 30% Rally Looming\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-shib-breakout-alert-potential-30-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-shib-breakout-alert-potential-30-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1353098980.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1353098980.jpg?fit=2119%2C1414\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"breakout\",\"shib\",\"shiba inu\",\"shibarium\",\"shibusd\"],\"dateCreated\":\"2023-07-10T12:10:30Z\",\"datePublished\":\"2023-07-10T12:10:30Z\",\"dateModified\":\"2024-06-11T07:50:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1353098980.jpg?fit=2119%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/541964"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=541964"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/541964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/541972"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=541964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=541964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=541964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}