Shiba Inu Witnesses a Substantial Rally, with Critical Resistance Levels in Focus

CryptoPotato reports that Shiba Inu is once again in the public eye due to a significant rally. Late in February, purchasers flooded the market for the cryptocurrency, driving its price to levels not seen since 2022. Since then, the price of SHIB has increased by more than 300 percent, which is particularly remarkable from a technical standpoint given the brief period of time. Present resistance stands at $0.000037; should purchasers persist in their ascent at this pace, its durability is improbable.

Similar levels of buying volume were observed during the previous bull market, indicating that this bull market has begun in earnest significantly earlier than anticipated. Currently, there are no indications of exhaustion among the purchasers. The market was taken aback by the rapidity of this rally, and the weekly RSI demonstrates this quite well. It has surpassed 90 points, the greatest level to date, which indicates both extreme bullishness and caution.

A bullish bias exists for SHIB, and meme currencies have returned and appear to be the market leader at the moment. It appears that Shiba Inu will likely maintain its ascent for the time being. Observe the critical resistance level of $0.000037. Anticipate SHIB to surge towards $0.000047 if that value declines.