SHIB’s on Fire, But Don’t Get Burned

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So, Shiba Inu‘s on a tear, huh? Broke through some big resistance levels, and the 200 EMA, no less. I mean, who needs fundamentals when you’ve got a cute dog face, right? 🐶 As of the last daily close, SHIB hit $0.00001548. That’s like, a lot of zeros. I’m not even sure what that means, but I’m sure it’s impressive to someone.

But, you know, don’t get too excited. The Relative Strength Index (RSI) is screaming “overbought” at 78. That’s like, the market equivalent of your aunt yelling “slow down!” at a family gathering. 🙅‍♀️ Typically, this means a pullback or some sideways action is coming. You know, like when you eat too much at the buffet and need a nap.

And, just below the $0.000016-$0.000017 range, SHIB’s approaching a zone of prior resistance. You know, like that one friend who always says “I’m not arguing, I’m just explaining why I’m right.” 😒 This could be a profit-taking zone, but hey, at least the breakout above $0.0000145 validated a trend reversal structure. Silver linings, right?

Now, I know what you’re thinking. “Larry, what about the golden crossover of important moving averages?” Well, let me tell you, it’s like a big ol’ hug from the market. 🤗 The 50 and 100 EMAs are like, “Hey, SHIB, you’re doing great, kid!” This could mean sustained upward momentum in the medium term, especially if SHIB stays above $0.000014 on a retest.

But, you know, don’t get too cocky. If momentum wanes and profit-taking quickens, we could see a decline toward $0.000014 or even the $0.000013 support zone. That’s like, the market equivalent of a cold shower. ❄️ But hey, at least the RSI would have time to cool down and prepare for a healthier future.

So, what’s the takeaway? Traders should prepare for potential short-term volatility, because, you know, the market’s like a moody teenager. 🤪 But hey, SHIB’s explosive run isn’t necessarily over. Just don’t say I didn’t warn you. 😉

Assuming SHIB doesn’t fall back below the 200 EMA, the price has probably moved into the latter part of its current rally cycle. But, you know, the overall trend might change sooner than later, especially if SHIB doesn’t enter a stabilization period. That’s like, the market equivalent of a timeout. 🤫

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2025-07-18 12:14