Shiba Inu Breakout Potential as Network Activity Surges 122%
Shiba Inu (SHIB) is showing signs of a potential bullish reversal as buyers defend key support.
A falling wedge pattern and improving momentum suggest breakout potential, while stronger trading activity and rising network participation could support further recovery.
The RSI has rebounded from weaker levels and moved above its signal average, indicating easing selling pressure. The MACD also points to improving momentum, with the fast line moving above the signal line near the zero level and the histogram turning increasingly positive.
The trading volume for SHIB increased by 36.01% to reach $40.23 million in the past 24 hours, although open interest remained steady at $55.63 million. Network activity on SHIB spiked by 122% over the last 24 hours.