Shiba Inu (SHIB) Posts Strongest Week Since November 2024 Amid Price Surge
26.04.2025 08:10
Shiba Inu (SHIB) experienced a notable 14.48% rally from Monday to Friday, climbing from a support zone near $0.00001107 to reach $0.00001417 by the close on Friday. This marks its best weekly performance since a 20% rally in late November 2024. Despite the recent upswing, SHIB still trades well below its November highs of approximately $0.0000297, and key resistance levels around $0.00001698 remain in place. The news comes at a time when many meme cryptocurrencies are witnessing robust momentum, prompting traders to watch closely whether SHIB can build on this recent performance or retreat to its previous trading range.
The strong weekly gain signals a positive market sentiment for SHIB. The token’s ability to hold its support near $0.00001107 and then surge to $0.00001417 suggests immediate bullish momentum driven by technical buyers. In the short term, this rally may attract speculative interest; however, resistance areas around $0.00001698 and several overlying moving averages could limit further immediate gains. In the long term, if SHIB sustains this momentum and breaks the key resistance, it might trigger renewed institutional and retail participation, similar to previous rally patterns. Historical trends showing significant rallies following the breaking of resistance levels support the optimism, though caution is warranted due to the token trading below its all-time high.
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