Shiba Inu price jumps 9%—can SHIB hold Its 200-day breakout?
The Shiba Inu price climbed almost 9%today, September 21, breaking above a level that had restricted its recovery for several months. SHIB reached the $0.00000608price level before it eased to around $0.00000596level. The breakout gives buyers some encouragement, although its exchange activity suggests that the rally still faces a test. Shiba Inu price clears a major barrier SHIB started trading at around the $0.00000550level before moving by 8.56%, according to the daily chart. Trading activity also increased as the price moved towards the $0.00000600price level. More importantly, SHIB moved above its 200-day average at about $0.00000562, and this level had previously acted as a ceiling. Moving above it suggests that the market conditions are improving. But for the move to be confirmed, SHIB must remain above that level after the initial excitement it saw stops. Source: TradingView The next resistance sits around the $0.00000608level, which is the days high. If it moves beyond that level successfully, it could bring the August peak near $0.00000620back into view. But if buyers lose control of the level it could not go above, around the $0.00000562 price level could become the first area of support. The $0.00000545 to $0.00000550level will then be the next level to watch. Exchange flows temper the optimism Its exchange









