Shiba Inu (SHIB) Primed for More Upside Despite Overbought Signal, Technical Indicators Suggest

Shiba Inu (SHIB) is among the standout cryptocurrencies in the ongoing market rally. The meme coin has broken into the top 10 digital assets by market capitalization.

Shiba Inu (SHIB) price analysis reveals a bullish continuation from Monday as the meme coin rallied further to hit the $0.000028 price mark. SHIB price action now eyes the next resistance level at $0.00003, fueled by a massive surge in burn activity.

SHIB price analysis: Bullish continuation as SHIB price eyes $0.00003

SHIB price analysis on the 24-hour chart reveals a bullish continuation from Monday as the meme coin price rallied further to hit the $0.000028 price mark. From the 24-hour high of $0.00002833, SHIB price later corrected slightly to trade at the $0.00002778 level at press time.

Bullish technical indicators on the 24-hour chart suggest further buying pressure, with SHIB price eyeing the next resistance level at $0.00003.

SHIB price analysis: Meme coin price now up over 60%

Shiba Inu (SHIB) price analysis on the 1-hour chart reveals a bullish continuation from Monday as the meme coin price rallied further to hit the $0.000028 price mark. From the 1-hour high of $0.00002833, SHIB price later corrected slightly to trade at the $0.00002778 level at press time.

Bullish technical indicators on the 1-hour chart suggest further buying pressure, with SHIB price eyeing the next resistance level at $0.00003.

SHIB price analysis: Meme coin price stalls at 100 moving average on the 15-minute chart

Shiba Inu (SHIB) price analysis on the 15-minute chart reveals a bullish stall from Monday as the meme coin price failed to break past the 100 moving average. From the 15-minute high of $0.00002823, SHIB price later corrected slightly to trade at the $0.00002778 level at press time.

Bearish technical indicators on the 15-minute chart suggest selling pressure, with SHIB price now supported by the 200 moving average.