SHIB Rally Stalls at Key Resistance: Breakout or Pullback Ahead?

1 week ago 7

Rommie Analytics

  • SHIB gained 4.03% as volume jumped 41.19% and exchange supply tightened sharply.
  • Rakuten Wallet will add SHIB on April 15, opening direct yen trading to Japanese users.
  • Resistance at $0.0000060-$0.0000062 remains key, with support seen near $0.0000059.

Shiba Inu’s latest advance slowed just below a closely watched ceiling, turning a strong daily rise into a fresh resistance test. The token gained 4.03% in the past 24 hours as the total crypto market cap climbed 4.89%, a move largely driven by Bitcoin.

That alignment showed the move developed during a wider market rebound rather than in isolation. At the same time, exchange flow data pointed to a tighter near-term supply backdrop. On-chain figures from April 7 showed a net outflow of 228.46 billion SHIB from major exchanges.

Trading volume also rose 41.19% to $139.15 million over the same 24-hour period. Fewer tokens on exchanges reduced readily available sell pressure, while stronger vo...

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