Can Shiba Inu (SHIB) price surpass Bitcoin?

Even as BTC hit an all-time high, the price of Shiba Inu (SHIB) soared more than 226% compared to BTC in just 10 days.

This significant increase reflects a broader trend seen across many other memecoins and suggests that memecoin’s popularity and influence may only increase in the current market environment.

Shiba Inu surges 267% in 10 days: What’s next?

The price of the Shiba Inu coin has surged around 267% over the past 10 days, reaching a significant Fibonacci resistance level around $0.000037. If SHIB breaks this resistance, the next notable Fibonacci resistance would be around $0.000057.

Breaking this level could mean a new bullish cycle for your Shiba Inu, especially if it exceeds the golden ratio. Additionally, a bullish signal is indicated by the Moving Average Convergence/Divergence (MACD) histogram showing an upward trend, the MACD line still crossing bullishly, and the Relative Strength Index (RSI) is currently in the neutral zone.

Is correction ahead for your Shiba Inu?

On the weekly chart, Shiba Inu prices are showing a strong trend. The MACD histogram has been trending upward since last week with a bullish crossover of the MACD line.

However, caution is needed as RSI indicates excessive overbought conditions. Significant Fibonacci support is expected around $0.00003 and $0.00002 for the correction.

See a bullish trend on the Shiba Inu daily chart

A golden crossover of the exponential moving average (EMA) on the daily chart of Shiba Inu indicates a bullish trend in the short to medium term. However, the MACD histogram is showing a downward trend, suggesting a bearish trend. Despite efforts to break the 0.382 Fib resistance near $0.000037, Shiba Inu may pull back towards the .382 Fib support near $0.00003.

The MACD line remains bullish, but the RSI indicates severe overbought with no signs of a bearish divergence, so caution is advised.

SHIB 4H Chart: Indicator Sends Mixed Messages.

On the 4H chart of the Shiba Inu, the golden crossover of the EMA confirms the bullish trend, but the MACD line has already turned bearish and the histogram fluctuates between bullish and bearish. RSI is neutral and does not provide clear signals. The decisive factor that determines SHIB’s direction is that the 0.382 Fib level is broken first.

If the $0.00003 support supported by the 50-4H EMA fails, the next important Fib support is at $0.00002 supported by the 200-4H EMA. Alternatively, a break above the $0.000037 Fib resistance could allow SHIB to target $0.000057.

SHIB recorded 226% growth compared to BTC in 10 days

Compared to BTC, Shiba Inu soared about 226% in 10 days. This surge caused SHIB to face significant resistance ranging from approximately 0.0000000006 BTC to 0.000000000722 BTC.