Is It Too Late to Buy Shiba Inu? SHIB Price Blasts Up 10% as Shibie Coin Secures $200,000 in Funding – Next Big Meme Coin?
Shiba Inu (SHIB) is pushing high with strong support, but following a +12.5% move, will the MA200 flip and is it too late to buy Shiba Inu - find out in SHIB price analysis.
This comes amid an impressive recovery for SHIB, which has climbed up +83% over the last 60 days, as bag holders remain in accumulation phase for leading meme coin.
With Shiba Inu pushing up holders are aiming to squash another zero, leaving SHIB trading high at a current price of $0.00000993 (a 24-hour change of 4.20%).
Support from the 20DMA, which flipped from resistance on July 13 has provided the footing for an impressive movement since July 28, coming up +27.25% to touch resistance from the 200DMA.
This comes after 200DMA support was lost on April 20 in a move that triggered the -48% major retracement, highlighting the importance of this critical resistance area.
Initial rejection from the 200DMA resistance over the weekend has left price action in remarkably good form after the emergence of a bullish pan-handle pattern this week.
And now price seems set on a retest that could decide whether SHIB continues its rally or plummets back to the lower trendline.
The RSI provides some cause for concern here, having heated up significantly on the +12.5 move, now displaying an overbought signal at 67.25 - consolidation could be necessary at this level before pushing up.
On the other hand the MACD remains bullish, with the indicator showing minor divergence at 0.00000046.
With substantial buy pressure underlaying the price action, upside potential is dependent on the 200DMA if it flips to provide support, SHIB is targeting a higher price level at $0.000002 (+20%).
However, if the 200DMA rejects then price action will fall to retest support at the 20DMA around
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