Shiba Inu Clears Key Technical Hurdle as Trading Volume Surges Past 4.8 Trillion Tokens
Shiba Inu (SHIB) rallied sharply on Thursday, gaining more than 5% and breaking above its 200-day simple moving average (SMA) for the first time since January — a move that signals a potential shift in trend and renewed investor interest.
The memecoin rose from $0.00001459 to $0.00001560 during the early hours of July 18 (01:00–05:00 UTC), as on-chain volume exploded to 4.88 trillion tokens, far surpassing its 24-hour average of 1.46 trillion. The surge points to a significant increase in activity, likely driven by large holders or short-term speculative flows.
A sustained move above the 200-day SMA is typically viewed as a bullish signal by technical analysts, indicating a possible trend reversal. In SHIB’s case, the breakout also confirms a double-bottom formation on the daily chart, reinforcing the potential for further upside.
Key Market Highlights:
- Price Movement: SHIB jumped from $0.00001459 to a session high of $0.00001569 — a 12.7% range during the July 17–18 period.
- Volume Spike: Token flow peaked at 4.88 trillion in a single four-hour window, well above the 24-hour norm.
- Exchange Supply Drops: On-chain metrics show SHIB reserves on exchanges at their lowest since 2023, signaling investor accumulation and reduced selling pressure.
- Whale Signals: Large wallet activity was observed at key price points, particularly around the $0.00001500 level, indicating smart money engagement.
Technical Setup:
- Support Zone: $0.00001480 now serves as the initial support on any retracement.
- Resistance to Watch: Bulls are targeting $0.00001570, with a breakout above this level potentially opening the path to higher highs.
Shiba Inu’s rally comes amid a broader altcoin resurgence, supported by improving sentiment, strong on-chain fundamentals, and the return of speculative capital. With the 200-day average now breached and volume confirming the move, SHIB may be entering a new phase of momentum — though traders remain cautious of overbought conditions in the short term.
