Shiba Inu Pops Above 200-Day Moving Average Amid Monster 4.8T SHIB Volume Spike

Shiba Inu Breaks Above 200-Day Average as On-Chain Volume Soars

Shiba Inu (SHIB) posted a notable rally on Thursday, jumping over 5% and clearing a critical technical resistance level for the first time in six months. The memecoin surged above its 200-day simple moving average (SMA), a milestone that may signal a shift in trend and growing bullish sentiment.

SHIB climbed from $0.00001459 to a session high of $0.00001569 between July 17 and 18, before consolidating near $0.00001560. The move came amid a massive spike in trading volume, which reached 4.88 trillion tokens—more than triple the 24-hour average of 1.46 trillion—suggesting renewed interest from both retail and large-scale investors.

According to on-chain data, SHIB’s supply on centralized exchanges has fallen to its lowest level since 2023, a sign that holders are moving tokens into self-custody or staking wallets, reducing immediate sell pressure.

Market Snapshot:

• Price Range: SHIB traded within a 12.7% band, touching a low of $0.00001391 and a high of $0.00001569 over the 24-hour window.
• Technical Breakout: The token decisively broke its 200-day SMA, a long-watched resistance level.
• Volume Surge: Activity peaked in early trading (01:00–05:00 UTC) with over 4.8 trillion tokens exchanged.
• Whale Activity: Several large wallets were active around the $0.00001500 level, hinting at institutional or smart-money involvement.

The technical breakout also confirmed a double-bottom pattern on the daily chart—a classic reversal signal—adding further bullish conviction. Traders now eye $0.00001570 as the next resistance zone, with a sustained push above that potentially opening room for further gains.

However, analysts caution that SHIB remains vulnerable to broader market pullbacks, and profit-taking could occur after the sharp rally unless momentum is supported by continued volume and institutional participation.