Shiba Inu Regains Strength Above $0.00001230 as Bulls Target Breakout
Shiba Inu (SHIB) is back in the spotlight, reclaiming ground above $0.00001230 after a steady climb from its April lows.
After dipping to $0.00001030, SHIB has bounced hard, showing renewed bullish structure and flipping key levels in its favor.
As of April 14, SHIB trades at $0.00001232, up 0.65% in the last 24 hours and looking to test immediate resistance at $0.00001268.
The bounce is being supported by a trendline at $0.00001200 and price is back above the 50 period EMA on the 2 hour chart. With momentum building, bulls are waiting for a break higher.
1000% Burn Rate Spike Renews Interest
One of the main drivers of this rally? A 1000% increase in SHIB’s burn rate—a strong sign the community is actively working to reduce supply. Combine that with growing interest in Shibarium and SHIB’s Layer-2 network and you get new life in the SHIB ecosystem.
From a technical standpoint, SHIB is making higher lows and forming a bullish continuation pattern. A break above $0.00001268 could open up $0.00001307 and if momentum continues $0.00001349.
The RSI is at 54.46, so there’s room to run before it gets overbought.
Shibarium Nears 200M Wallets, Strengthens Fundamentals
Beyond price action, Shibarium is proving to be more than just a novelty. The Layer-2 network has now done 1 billion transactions and is closing in on 200 million wallet addresses—clear signs of growth and real world usage.
This is a big deal for SHIB, it means it’s evolving from meme coin to a utility driven asset with its own scaling solution.
Key Points
Price action: Bullish structure with higher lows
Burn rate: 1000%+ increase
Resistance zone: $0.00001268 → $0.00001349
Support: $0.00001193 is the level to hold
Rank: Now #17 by market cap, passed Hedera (HBAR)
Shibarium: 1B+ transactions, 200M wallet milestone
Can SHIB Catch Dogecoin?
With the memecoin market hot again, SHIB is showing up and positioning itself as Dogecoin’s top competitor. If price breaks $0.00001268 with volume, $0.00001349 could come quick.
Looking further out, SHIB would need to rally 700% to get back to its all time high of $0.00008844—a big ask, but possible in a full blown crypto bull market.
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