{"id":637582,"date":"2024-08-24T17:30:19","date_gmt":"2024-08-24T17:30:19","guid":{"rendered":"https:\/\/www.wncen.com\/?p=637582"},"modified":"2024-08-24T12:11:23","modified_gmt":"2024-08-24T12:11:23","slug":"shiba-inu-breaks-above-trendline","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/shiba-inu\/shiba-inu-breaks-above-trendline\/","title":{"rendered":"Shiba Inu Breaks Above Trendline: Can The Bulls Drive SHIB To $0.00002045?"},"content":{"rendered":"

Shiba Inu<\/span><\/a> (SHIB) has recently surged past a key bullish trendline, sparking fresh optimism among traders and investors. This breakout marks a significant shift in momentum that could pave the way for a potential rally toward the $0.00002045 level. As the <\/span>market<\/span><\/a> eyes this potential rally, all attention turns to whether SHIB can sustain its upward trajectory and reach this ambitious target, or will the bears step in to stall the run?<\/span><\/p>\n

This article provides an in-depth technical analysis of Shiba Inu’s recent breakout above the trendline, evaluating whether this could trigger a rally toward the $0.00002045 target. Additionally, it will explore potential price reactions once SHIB approaches this critical level.<\/span><\/p>\n

In the last 24 hours, Shiba Inu has gained over a 6% increase, reaching approximately $0.00001519. The crypto asset\u2019s market capitalization has surpassed $8.9 billion, with trading volume exceeding $311 million. Over this period, the market cap has increased by 6.59%, while trading volume has surged by 85.23%.<\/span><\/p>\n

Trendline Breakout: A Bullish Signal For Shiba Inu?<\/strong><\/h2>\n

Following the <\/span>breakout<\/span><\/a> above the trendline, SHIB’s price has maintained its bullish momentum, consistently trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart. This sustained positive sentiment reflects strong upward momentum, signaling that the bulls are firmly in control and could push the price toward the next significant resistance level at $0.00002045.<\/span><\/p>\n

\"Shiba
Shiba Inu’s bullish momentum holds above the 100-day SMA | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Also, the Relative Strength Index (RSI) indicator is currently at 73% showing that Shiba Inu is in an overbought territory. A sustained <\/span>overbought<\/span><\/a> condition signals strong buying pressure suggesting that bullish momentum remains robust in the market.<\/span><\/p>\n

On the daily chart, although SHIB is experiencing a short-term pullback, it is attempting to move toward the 100-day SMA following a successful breakout above the bearish trendline. The appearance of a <\/span>bullish<\/span><\/a> momentum candlestick on the previous day indicates a strong bullish sentiment, which could drive the cryptocurrency towards further gains.<\/span><\/p>\n

\"Shiba
SHIB set for further upward movement | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Finally, the 1-day RSI indicates that SHIB’s bullish momentum is strengthening, with the signal line moving toward the overbought region after recently crossing above 50%. The upward movement in the RSI suggests intensifying buying pressure and growing bullish sentiment for the asset.<\/span><\/p>\n

Potential Market Reactions: What Happens If SHIB Hits $0.00002045?<\/strong><\/h2>\n

Potential price reactions when Shiba Inu reaches $0.00002045 include a breakout above this level or a potential rebound.<\/span><\/p>\n

If Shiba Inu breaks above the $0.00002045 level, it could signal the beginning of a sustained bullish rally toward the $0.00002631 resistance level. A successful break above this level could propel the asset toward the next resistance at $0.00002960, with the <\/span>potential<\/span><\/a> for even higher gains.<\/span><\/p>\n

However, if the cryptocurrency encounters a rebound at the $0.00002045 resistance level, the price may retrace to its previous low of $0.00001272. When SHIB breaks below this <\/span>support<\/span><\/a>, it could indicate an additional downside momentum, potentially driving the asset toward the $0.00000847 mark and possibly lower levels.<\/span><\/p>\n

\"Shiba
SHIB trading at $0.00001524 on the 1D chart | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Unsplash, chart from Tradingview.com<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB) has recently surged past a key bullish trendline, sparking fresh optimism among traders and investors. This breakout marks a significant shift in momentum that could pave the way for a potential rally toward the $0.00002045 level. As the market eyes this potential rally, all attention turns to whether SHIB can sustain its upward trajectory and reach this ambitious target, or will the bears step in to stall the run? This article provides an in-depth technical analysis of Shiba Inu’s recent breakout above the trendline, evaluating whether this could trigger a rally toward the $0.00002045 target. Additionally, it will explore potential price reactions once SHIB approaches this critical level. In the last 24 hours, Shiba Inu has gained over a 6% increase, reaching approximately $0.00001519. The crypto asset\u2019s market capitalization has surpassed $8.9 billion, with trading volume exceeding $311 million. Over this period, the market cap has increased by 6.59%, while trading volume has surged by 85.23%. Trendline Breakout: A Bullish Signal For Shiba Inu? Following the breakout above the trendline, SHIB’s price has maintained its bullish momentum, consistently trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart. This sustained positive sentiment reflects strong upward momentum, signaling that the bulls are firmly in control and could push the price toward the next significant resistance level at $0.00002045. Also, the Relative Strength Index (RSI) indicator is currently at 73% showing that Shiba Inu is in an overbought territory. A sustained overbought condition signals strong buying pressure suggesting that bullish momentum remains robust in the market. On the daily chart, although SHIB is experiencing a short-term pullback, it is attempting to move toward the 100-day SMA following a successful breakout above the bearish trendline. The appearance of a bullish momentum candlestick on the previous day indicates a strong bullish sentiment, which could drive the cryptocurrency towards further gains. Finally, the 1-day RSI indicates that SHIB’s bullish momentum is strengthening, with the signal line moving toward the overbought region after recently crossing above 50%. The upward movement in the RSI suggests intensifying buying pressure and growing bullish sentiment for the asset. Potential Market Reactions: What Happens If SHIB Hits $0.00002045? Potential price reactions when Shiba Inu reaches $0.00002045 include a breakout above this level or a potential rebound. If Shiba Inu breaks above the $0.00002045 level, it could signal the beginning of a sustained bullish rally toward the $0.00002631 resistance level. A successful break above this level could propel the asset toward the next resistance at $0.00002960, with the potential for even higher gains. However, if the cryptocurrency encounters a rebound at the $0.00002045 resistance level, the price may retrace to its previous low of $0.00001272. When SHIB breaks below this support, it could indicate an additional downside momentum, potentially driving the asset toward the $0.00000847 mark and possibly lower levels. Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":637583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[16393,14763,83668,83667,84562,84558,91599,85676],"class_list":["post-637582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-relative-strength-index","tag-rsi","tag-shib","tag-shiba-inu","tag-shibusd","tag-shibusdt","tag-simple-moving-average","tag-sma"],"acf":[],"yoast_head":"\nShiba Inu Breaks Above Trendline: Can The Bulls Drive SHIB To $0.00002045?<\/title>\n<meta name=\"description\" content=\"Shiba Inu (SHIB) has recently surged past a key bullish trendline, sparking fresh optimism among traders and investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/www.wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Breaks Above Trendline: Can The Bulls Drive SHIB To $0.00002045?","url":"http:\/\/www.wncen.com\/shiba-inu\/shiba-inu-breaks-above-trendline\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/shiba-inu\/shiba-inu-breaks-above-trendline\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/08\/Shiba-Inu-from-Unsplash-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/08\/Shiba-Inu-from-Unsplash-1.jpg?fit=3000%2C1996"},"articleSection":"Shiba Inu","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["relative strength index","rsi","shib","shiba inu","shibusd","shibusdt","simple moving average","sma"],"dateCreated":"2024-08-24T17:30:19Z","datePublished":"2024-08-24T17:30:19Z","dateModified":"2024-08-24T17:30:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Breaks Above Trendline: Can The Bulls Drive SHIB To $0.00002045?\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/shiba-inu\\\/shiba-inu-breaks-above-trendline\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/shiba-inu\\\/shiba-inu-breaks-above-trendline\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Shiba-Inu-from-Unsplash-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Shiba-Inu-from-Unsplash-1.jpg?fit=3000%2C1996\"},\"articleSection\":\"Shiba Inu\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"relative strength index\",\"rsi\",\"shib\",\"shiba inu\",\"shibusd\",\"shibusdt\",\"simple moving average\",\"sma\"],\"dateCreated\":\"2024-08-24T17:30:19Z\",\"datePublished\":\"2024-08-24T17:30:19Z\",\"dateModified\":\"2024-08-24T17:30:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/08\/Shiba-Inu-from-Unsplash-1.jpg?fit=3000%2C1996","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/637582"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=637582"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/637582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/637583"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=637582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=637582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=637582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}