With the overall market sustaining bullish momentum as Bitcoin crosses the $36K mark, the altcoins are surging to new highs. With the meme coins starting a fresh rally, the SHIB price surpasses the 200-day EMA and approaches the $0.000010 mark.
Moreover, with the rising demand in the altcoin sector, the meme coins are ready for a take-off. Hence, the Shiba Inu price prediction hints at a high-speed bullish trend reversal to reclaim the 2021 highs.Â
Riding the market recovery trend, the SHIB price action shows a falling wedge breakout in the daily chart to ignite a trend reversal. Breaking the streak of lower highs, the meme coin crosses above the crucial overhead resistances.
With a price jump of 26% in the last three weeks, Shiba Inu gives a wedge breakout and surpasses the 50-day and 200-day EMA. Further, the rise in the intraday trading volume supports the trend reversal.
With multiple lower price rejections from the 50-day EMA and the $0.00000836 breakout, Shiba Inu teases an uptrend continuation. Currently, the SHIB prices trade at $0.00000861 with a sharp intraday gain of 3.99% and form a bullish engulfing candle. Â
Technical indicators:
MACD indicator: The uptrend sustains despite the short bullish gap between the MACD and signal lines. Therefore, the momentum indicator takes a positive stand.Â
EMA: AS the uptrend influences a turnaround in the 200-day and 50-day EMA, the chances of a golden crossover arise. Moreover, the 200-day EMA breakout signals an entry spot.Â
Will SHIB Price Cross $0.000010?
With the market gaining momentum, the meme coins are ready for a trend reversal as the demand outgrows. Further, the price action analysis and multiple bullish signals tease a prolonged uptrend in SHIB price.Â
Hence, the chances of a SHIB price crossing the $0.000010 mark are increasing significantly. However, the breakout of $0.0000890 will be crucial for the uptrend to sustain momentum.Â
On the flip side, if the meme coin price tumbles below $0.000008360, it could plunge to $0.00000751.
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