News
SHIB Jumps Nearly 7% as Bulls Break Through Resistance on Heavy Buying
The Shiba Inu token has demonstrated remarkable resilience despite broader market volatility, successfully breaking through key resistance levels while maintaining position above all major moving averages, according to CoinDesk Research's technical analysis data model.
Technical indicators suggest continued bullish sentiment, though short-term price action shows some consolidation after the recent gains.
Market analysis reveals approximately 80% of SHIB holders are currently underwater at current prices, with only 16.59% in profit.
However, this hasn't dampened community enthusiasm as development continues on Shibarium, the Layer 2 scaling solution designed to enhance SHIB's utility beyond its meme coin origins.
Technical Analysis Highlights
External References