Shiba Inu (SHIB) Tries Again: Can It Break Above $0.000005?

Shiba Inu (SHIB) is on the move, attempting to break above $0.000005 after a nearly 2% daily gain. This comes after its volatility spike in late July, where it reached as high as $0.0000058 before being rejected.

The token's current structure appears more promising compared to last month, with a stable price range between $0.0000046 and $0.0000048. The orange moving average is at $0.00000496, acting as resistance protecting the key threshold of $0.000005.

A daily close above this level could trigger attention towards $0.0000052-$0.0000054, marking a significant short-term breakout signal since the July surge. Meanwhile, a developing support cluster is present beneath the current price, with the green moving average at about $0.00000465 and the blue moving average lower at roughly $0.00000446.

The bullish scenario is somewhat supported by momentum, with the daily RSI sitting comfortably outside overbought territory at 55, above its signal line at 52.6. However, trading activity has drastically decreased since the late-July move, reducing the credibility of the current advance and raising the significance of confirmation at $0.000005.