SHIB Price Squeeze: Bull Trap or Legitimate Breakout?
SHIB's price surged by 5.51% in a single session, pushing it against the upper Bollinger Band resistance.
The move has sparked debate among traders about whether this is a legitimate breakout or a bull trap.
While the Relative Strength Index (RSI) at 64.30 indicates buyers have genuine momentum and are above the neutral 50 midpoint, the MACD histogram shows momentum flattening, which could signal a mean-reversion to the 20-period moving average.
The absence of verified high-conviction catalysts in this 24-hour window is also a data point that suggests derivative-driven price discovery or coordinated whale activity rather than a genuine trend chapter.
The smart positioning right now is waiting for Bitcoin's directional conviction, as SHIB's correlation to BTC remains the single most reliable macro driver.