Shiba Inu Price Breaks Downtrend as Japan Approves Nomura-Backed Exchange
Shiba Inu's price has broken out of an 11-month downtrend after closing above its 20-week moving average for the first time since September 2025. This technical shift comes on the heels of Japan's Financial Services Agency approving Nomura-backed Laser Digital Japan to list SHIB, alongside five other assets, including Bitcoin and Ethereum.
The approval effectively gives SHIB a direct channel to Japanese institutional investors, which can deepen liquidity for the token. SHIB currently trades around $0.00000528, down 4.27% over the past 24 hours as it retests the breakout zone near $0.00000531.
The daily relative strength index has cooled to 58 after forming twin peaks near 77, suggesting fading momentum rather than an outright reversal. Seasonality adds another layer of caution, as SHIB has never closed a September with a gain and has historically had a median return of -2.99% for the month.