Price performance and important on-chain metrics are both rising at the same time, marking one of Shiba Inu's most robust comebacks in recent months. SHIB has firmly broken above key moving averages on the daily chart following weeks of sluggish trading activity and consolidation close to multi-month lows.
Resistance levels that formerly restrained upward momentum are currently being tested, most notably those around $0.000013. The technical picture indicates that for the first time since early May, SHIB is trading above both its 50-day and 100-day EMAs. Traders frequently view this crossover as a sign that long-term rallies are imminent. The background of the volume is even more significant.
A notable increase in large transaction metrics is evident from IntoTheBlock's on-chain data: 114 large SHIB transactions occurred in the last day, and the total transaction volume soared to 5.43 trillion SHIB. The difference between that and the seven-day lows a few days ago is 3.8 times. This abrupt increase in high-value transactions is rarely insignificant. It usually means that whales are accumulating in anticipation of higher prices or that large holders are quickly rotating their liquidity.
In either case, volatility and possible opportunity are brought about by this volume inflow. This volume explosion might spark a longer-lasting bullish wave as the market's sentiment steadily improves and meme coins start to gain traction again. SHIB's relative strength index (RSI), which is pushing above 65 and indicates that buyers are firmly in control but not yet in overbought territory, adds more support to the momentum.
A test of $0.00002, a psychologically significant milestone, would be possible if SHIB could confidently clear the $0.000013-$0.0000145 zone. What can investors anticipate at this point? However, as speculative traders lock in gains, a quick retracement could occur if this breakout is not maintained.
SHIB is proving that the meme coin narrative is still relevant overall. Explosive on-chain volume and technical breakouts are laying the groundwork for a recovery, that, if momentum continues, could develop into a full-scale rally. In order to determine the authenticity of this surge, volume and whale activity are key indicators to consider.
