Shiba Inu Rallies 10% In 1 Week: Can It Go Higher?

Shiba Inu SHIB/USD is gaining momentum with the launch of the new Shytoshi AI paper, fueling speculation that SHIB could be entering a new bullish phase.

Trader Notes: Crypto analyst CJ flagged Shiba Inu's chart as forming a "pretty epic structure," with bid zones now primed for potential high-reward entries.

While SHIB is near local resistance, the broader formation signals considerable upside if momentum persists.

Statistics: Shibburn reports an 869.7% spike in the burn rate, with 5.82 million SHIB burned in a single transaction 19 hours ago.

IntoTheBlock data shows Shiba Inu large transaction volume narrowed by 31.6% while daily active addresses grew 14.4% in a single day. Transactions greater than $100,000 rose from 78 to 99 during the same period.

Trending Crypto Products

Earn Up to 3% Back in Bitcoin and Crypto on Every Purchase You Make

Get Started

Invest Your IRA or 401(k) in Real Estate, Crypto, and More with IRA Financial

Get Started

Community News: Shiba Inu's official X account confirmed the token has broken its long-term downtrend, reclaiming the $0.000015 level with conviction.

Key indicators turning bullish include: downtrend resistance breached, volume and momentum surging, whale accumulation underway and structure flipped bullish.

SHIB is now experiencing its strongest rally since February. A sustained move could see it reclaim $0.000017, opening the door to a test of $0.00002.

SHIB's marketing lead Lucie expressed deep curiosity around the Shytoshi AI paper, calling it a turning point. "This feels like the beginning of a new narrative, SHIB CITY: The AI Utopia," she wrote, hinting that the meme coin might be entering a new era of storytelling, utility, and cultural relevance.

Read Next: 

• Dogecoin Soars 21%, Shiba Inu Skyrockets 17% In 7 Days: Are Meme Coins Back?

Image: Shutterstock