Memecoin Shiba InuThe price of has attracted attention again by briefly exceeding the psychological threshold that investors have been waiting for for weeks. After a long period of decline and horizontal trend SHIBrose above the $0.00001 level by erasing one zero in intraday transactions. However, this change was not permanent and the price quickly retreated. The market’s reaction reveals that although the rise is technically meaningful, it does not translate into a strong trend change.
Technical Background of the Short-Term Surge
The increase in the price of Shiba Inu by one zero occurred as the increase in purchasing appetite moved the price above the 100-day exponential moving average. This level, which has been acting as a strong technical barrier for weeks, stood out as one of the main factors limiting previous upward attempts.
Overcoming resistance is normally considered a development that could pave the way for chain purchases. However, market dynamics did not progress in the expected direction. Immediately after the price hit the $0.00001 level, sell orders intensified and supply outpaced demand. The resulting selling pressure prevented the rise and brought the price down again in a short time. The speed of the move showed that many investors viewed the rise as a profit-taking opportunity.
From a technical perspective, the Shiba Inu is still in recovery. Although there is a temporary improvement in short-term indicators, the fact that they remain below the main moving averages that determine the long-term trend reveals that the sellers are still strong. The price encounters a similar sell-off in every resistance test.
Why Does Volume Data Warn for Shiba Inu?
The increase in transaction volume during the rise indicates reactive buying behavior rather than a healthy trend change. The bounce in volume was erratic and did not show persistence as the price struggled to hold on to new levels. In strong trend reversals, it is expected that the volume will continue to increase and the price will consolidate its gains.
In this case, transaction volume dropped rapidly as sales came into play. The current situation in Shiba Inu is that the majority of buyers entering the market memecoinIt shows that they look at short-term and avoid long-term accumulation. Therefore, although the psychological threshold was crossed, there was no strong basis for belief behind it.
What happened on the Shiba Inu front once again showed that symbolic price levels alone are not sufficient. For a permanent rise, investors need to hold positions patiently and technical levels need to be supported by volume. The current outlook in Memecoin indicates that all these desired conditions have not yet been fully met.
