Shiba Inu signals a strong bounce back, could it reach the $0.00003 mark?

Technical Analysis for Shiba Inu coin (SHIB) indicates a strong bullish trend for this memecoin. Notably, SHIB has surpassed important resistance levels and entered the cloud zone of the Ichimoku Cloud indicator on the daily chart, a clear signal for growth momentum.

Investors are currently paying close attention, watching to see if this bullish trend can continue and whether SHIB can reach a price of 0.00003 USD in the near future.

Explore the bullish trend of SHIB

The latest data shows that the price of SHIB is trading at 0.000013 USD and is within the cloud of the Ichimoku Cloud indicator on the daily chart – a clear sign of a bullish trend.

Ichimoku Cloud is a powerful technical analysis tool that helps identify market trends, support levels, resistance levels, and momentum. This tool comprises five lines, two of which form a “cloud.” When the price trades within the cloud, it signals a bullish trend, while when the price is below the cloud, it indicates a bearish trend.

For Shiba Inu, the cloud is shifting from red to green near the current price level, reinforcing the hypothesis of a potential trend reversal. This is also a strong signal indicating that SHIB is in a bullish trend, similar to the 2.05% increase over the past 24 hours.

SHIB has currently identified a support level at 0.0000125 USD and a resistance level at 0.0000137 USD. The bullish crossover and the transition from the red cloud to green provide a solid foundation for the upward momentum.

SHIB Price Chart | Source: TradingViewAdditionally, the Coppock Curve is currently at 21.14, indicating strong bullish momentum. This is a momentum indicator that predicts a long-term bullish trend, suggesting that the price of SHIB may have bottomed out and is entering a phase of sustainable growth.

The Coppock curve is an ideal tool for identifying buying opportunities in bullish markets. This indicator is often suitable for long-term investors, and at the current price level, SHIB could be an attractive option for accumulation.

In summary, the signals from the Ichimoku Cloud and the Coppock Curve both support that SHIB is in a short-term bullish phase. Traders may consider opening long positions, but they need to be cautious of the potential market volatility.

The daily activity address of SHIB skyrockets

Another notable factor is the strong increase in the number of daily active addresses on the Shiba Inu blockchain, indicating that network activity is becoming increasingly vibrant.

Data from Sentora ( previously known as IntoTheBlock) shows that the number of active daily addresses for SHIB has increased by 21.43% over the past 24 hours, with 5,333 new addresses created on the network. This is a clear sign that user participation is on the rise, while also reflecting new capital flowing into the Shiba Inu ecosystem.

The active address of Shiba Inu | Source: SentoraThe concept of "daily active addresses" refers to the number of new wallets created within a certain timeframe. This is an important metric for tracking changes in network activity, particularly in the context of a cryptocurrency like SHIB.

The strong increase in the number of new wallets created is a positive indicator, signaling that capital is flowing into the market and the user community is growing stronger. This could lead to an increase in the value of the SHIB coin, as the number of active addresses on a daily basis has a direct correlation with price volatility. When the number of active addresses increases, the price often tends to rise, and vice versa.

Therefore, the number of daily active addresses is not only an indicator of user growth but can also be seen as an early signal of potential price fluctuations. With the current level of activity on the Shiba Inu network, investors and experts expect the price of SHIB to continue to grow significantly in the near future.

Can the price of SHIB reach 0.00003 USD?

In the past seven days, the value of Shiba Inu has increased by more than 15%, demonstrating outstanding performance compared to many other cryptocurrencies. This is a strong signal of the growth potential of this memecoin.

Despite a 3.4% increase in daily trading volume, this indicates a positive signal for the bulls, but the current trading volume is still not large enough to confirm a strong bullish trend. To maintain this bullish trend, SHIB needs to break through and hold above the current resistance level of 0.0000137 USD.

Technical indicators such as Ichimoku Cloud and Coppock Curve are showing a positive bullish trend. Accordingly, the possibility of SHIB's price moving within the range of 0.000015 USD to 0.00002 USD in the near future is quite high. If this trend continues and trading volume accelerates, it is entirely feasible for SHIB to reach the level of 0.00003 USD in the long term.

One factor that cannot be overlooked is the strong deflationary movement within the Shiba Inu ecosystem. Recently, the community transferred 9,551,523 SHIB to a dead wallet, reducing the total supply. This is an important factor contributing to pushing the price of this memecoin higher, as the reduction in supply can create bullish pressure.

With supporting technical factors, increased activity, and deflationary moves, SHIB has the potential to continue its bullish trend in the near future. However, to reach the level of 0.00003 USD, trading volume needs to increase, along with stability surpassing key resistance levels. If the current trend continues, the price of SHIB could achieve this target in the long term.

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