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SHIB big pump 5% strongly breaks resistance! Is Shiba Inu about to trigger a new round of pump?
On August 13, Shiba Inu (SHIB) surged over 5% in the past 24 hours, breaking through a key resistance level that had long suppressed its price, reigniting market expectations for the next round of meme coin rallies. Is this sudden surge merely a brief false breakout, or the prelude to a new round of big pump?
SHIB breaks out of the sideways pattern
(Source: Trading View)
After experiencing several weeks of low volatility and sideways movement, the price of SHIB has risen by 5.03% today to $0.00001358, successfully breaking through the stubborn resistance level of $0.00001350.
Volume Recovery: With the price breaking through, trading volume has also increased, indicating a return of buying power.
Market sentiment is warming up: after breaking through key price levels, community discussion has obviously heated up, and investors are starting to pay attention to short-term pump potential.
Key price levels that traders must watch
Support level: $0.00001350 (recently turned into support), with the lower defense level at $0.00001300.
Upward target:
First target: 0.00001400 USD
Second target: $0.00001550 (main resistance area)
Downside risk: If it breaks below $0.00001300, it may retest the $0.00001250 support zone, at which point dip buyers may re-enter the market.
Is this the starting point of a new round of market trends?
The market's interpretation of this rise is clearly divided:
The bulls believe that breaking through key resistance levels accompanied by increased trading volume is a technical signal for a new round of pump. If it can stabilize above 0.00001400 USD, SHIB is expected to continue its upward trend and challenge higher targets.
The cautious faction reminds that meme coins are highly volatile, and short-term gains may be quickly reversed, especially in the absence of significant fundamental catalysts.
Technical Analysis
Short-term trend: The confirmation of a pullback after breaking the resistance level will be key. If it holds above 0.00001350 USD, the short-term bullish structure will be solidified.
Momentum Indicator: RSI enters the mid-high range, indicating active buying but caution is needed for overbought pullbacks.
Trading Volume: Sustained increase in volume is a necessary condition for maintaining upward momentum.
Conclusion
The 5% big pump of SHIB not only broke the long-term sideways pattern but also reignited the market's imagination for meme coin trends. The key moving forward is whether it can stabilize the support at 0.00001350 USD and break through 0.00001400 USD. If successful, Shiba Inu may welcome a more intense surge; conversely, if it loses support, it may return to a consolidation pattern.
Investors should closely monitor changes in trading volume and market sentiment, and cautiously seize short-term opportunities.