Shiba Inu Bulls Eye Reversal Amid Rising Trading Activity

The Shiba Inu cryptocurrency has shown signs of a potential bullish reversal as investors defend a critical support level. Analysts point to a falling wedge pattern, strengthening momentum indicators, and increased trading activity as reasons for renewed market optimism.

A falling wedge pattern has emerged on the SHIB daily chart, suggesting that downward selling pressure may be subsiding. Buyers are attempting to reclaim ground from recent losses, with the token currently priced at $0.0000052. According to technical projections, a clean breakout above the wedge resistance could pave the way for a potential move toward $0.000014.

The RSI has moved above its signal average, and the MACD supports this recovery, indicating that selling pressure is easing and buying momentum is gradually returning. Trading volume surged 36.01% in the last 24 hours, reaching $40.23 million, while on-chain activity jumped 122%, according to data from SHIB Mortal.