$SHIB is an inch closer to a breakout despite the fading trading volume and lack of inflows on the market
in the last week as memecoins got their second wind and had a massive run on the market, gaining up to 30% to their value in the matter of a day. But for now, they are actively battling with strong resistance levels that might act as trampolines in the future.
SHIB token is currently sitting at the 200-day moving average resistance and trying to break it for the last two days. Unfortunately, the token did not immediately burst through the technical resistance and reversed back below $0.000016. Unfortunately, the 200-day moving average correlates with the 50-week moving average on a longer timeframe, which makes the $0.000016 threshold even harder to break through. But if it succeeds,
will most likely make a run toward the next resistance on the chart, located almost 35% above the current price level.
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