Furthermore, SHIB is now trading above its 50-4H exponential moving average (50-4H EMA; the red wave) at around 0.00001306 USDT and the 200-4H EMA (the blue wave) at around 0.0001334 USDT. That further reinforces the upside outlook.
However, the Relative Strength Index (RSI) at 88.16 indicates overbought conditions, suggesting a short-term pullback could occur before another rally.
ShibaSwap DEX Volumes Pop As Price Booms
Shiba Inu’s price surged today due to high trading volume, technical breakout, and strong whale accumulation. Investors showed increased interest, leading to a 228% jump in SHIB’s trading activity over the last month.
For instance, ShibaSwap, SHIB’s decentralized exchange, also recorded a massive 244% rise in volume, pushing overall liquidity higher. This increase in demand helped SHIB break past key resistance levels.
