According to CryptoPotato, Shiba Inu is back in the spotlight with a massive rally. The cryptocurrency's buyers came in force in late February, taking the price to levels not seen since 2022. Since then, SHIB's price has increased by over 300%, an impressive achievement in such a short time, especially from a technical perspective. The current resistance is at $0.000037, and if buyers continue pushing at this rate, it is likely to not last.
The buy volume reached levels similar to those of the last bull market, showing that this bull market is now in full swing and much earlier than expected. Buyers do not show any signs of exhaustion at the time of this post. The speed of this rally took the market by surprise, and the weekly RSI shows this very well. It is now over 90 points, the highest level to date, signaling extreme bullishness but also caution.
The bias for SHIB is bullish, and meme coins are back, appearing to dominate the market right now. Shiba Inu seems likely to continue its rally as long as this lasts. Watch the key resistance at $0.000037. If that falls, expect SHIB to rush towards $0.000047 next.