Shiba Inu (SHIB) Eyes Breakout as Whale Moves and RSI Spike Signal Momentum Shift

Shiba Inu (SHIB) has sparked bullish interest with a 4.56% price surge, breaking above a local descending trendline and reaching around $0.00001354. This move marks the first sign of a potential trend reversal after prolonged consolidation near the $0.0000122 support zone, a level previously linked to heavy whale outflows.

Technical indicators are turning favorable. The Relative Strength Index (RSI) has crossed above 50, suggesting bullish momentum, while rising volume supports the breakout. SHIB now targets the 50-day Exponential Moving Average (EMA), currently near $0.0000142, as its next resistance. A successful breakout here could open the path toward the 100 EMA and the psychologically significant $0.0000160 level.

Despite the short-term optimism, SHIB still trades below its 200 EMA, indicating that the broader trend remains bearish. However, on-chain data reveals intriguing developments. On March 20, large holders moved 5.54 trillion SHIB tokens, likely signaling strategic accumulation as the tokens appear to have been withdrawn from exchanges. This could support the case for a sustained move higher if buying pressure continues.

While immediate reactions were limited, SHIB has since shown resilience, reclaiming a brief uptrend. The market is watching closely to see if momentum continues. A clear breakout above the 50 EMA could confirm a local bottom, while failure to hold above key levels may result in continued sideways trading.

As sentiment improves and whales reposition, Shiba Inu could be setting the stage for its next leg higher—making it a token to watch in the coming days.