While the past week has seen many meme coins through a slight calm, Shiba Inu bounced back again and regained strength after three weeks of retracement. It broke higher and appears super bullish on the day. In November, Shiba saw few gains compared to other top meme coins like Doge, Pepe, and Bonk, which rallied hard within a few weeks. It posted small gains and quickly took a bullish break after testing the $0.00003 level. That break brought a three-week retracement and the price dropped near $0.00002. Holding this price level as support, it bounced back but no enough buying volume to bring the bulls back in action and the month ended indecisively. Starting this month on a strong note following a rising demand, trading volatility increased and the price exploded massively following the latest price break. The price is now looking strong again as it sits well above $0.000031 at the time of writing. The main obstacle for the bulls right now is the $0.000046 level, tested in March. Once they manage to push through, we should anticipate a major run from a long-term perspective. A drop from the current trading level could bring a slight retest before resuming bullish. Leading today’s meme coins rally, Shiba is up 30% in the past week as it makes a new shift. It is currently looking bullish on the daily chart. Shiba’s Key Levels To Watch Source: Tradingview On the way up, Shiba is facing a minor resistance at $0.000033 while the main resistance sits at $0.0000457. A break out there should skyrocket the price to $0.00006. In case of a drop, $0.00003 is the closest level to consider for support, followed by the $0.000023 level. Lower support levels for drops are $0.000016 and $0.0000125. Key Resistance Levels: $0.000033, $0.0000457, $0.00006 Key Support Levels: $0.000023, $0.000016, $0.0000125 Spot Price: $0.000032 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: avirozen/ 123RF // Image Effects by Colorcinch
