Shiba Inu Breaks Above 200-Day Average as Trading Volume Hits 4.88 Trillion

Shiba Inu (SHIB) surged over 5% on Thursday, crossing its 200-day simple moving average (SMA) for the first time since January—a key technical milestone signaling renewed bullish momentum.

The meme coin rose from $0.00001459 to $0.00001560 in the early morning hours of July 18, with the bulk of the gains occurring between 01:00 and 05:00 UTC. During that period, trading volume spiked dramatically, peaking at 4.88 trillion tokens—over three times the 24-hour average of 1.46 trillion—according to on-chain data.

The breakout above the 200-day SMA, widely followed by institutional and retail traders alike, is supported by heavy volume, often seen as confirmation of a meaningful trend shift. On the daily chart, SHIB appears to be completing a bullish double-bottom reversal pattern, further strengthening the technical outlook.

AI-Powered Market Signals:

• SHIB posted a 12% intraday price range from $0.00001384 to $0.00001569 between July 17 and July 18, underscoring elevated volatility and buying interest.
• Exchange reserves for SHIB dropped to their lowest levels since 2023, suggesting large-scale accumulation by whales and a notable reduction in sell-side pressure.
• Institutional flows contributed significantly to the breakout, particularly around the $0.00001500 psychological threshold.

Key Technical Levels:

• Resistance: Immediate resistance is located near $0.00001515, with a short-term target zone between $0.00001520 and $0.00001540.
• Support: Early signs of support have formed above $0.00001480 following brief consolidation after the breakout.
• Volume Confirmation: The 4.88 trillion volume print during the 01:00 UTC hour significantly validates the breakout’s strength.

Shiba Inu’s recent performance signals growing investor confidence, possibly fueled by whale activity and improving technical conditions. Should momentum continue, the altcoin could test higher resistance levels in the coming sessions.