Shiba Inu price analysis (Bullish) — 0.00 USDT (+9.29% 24h)

SHIB is showing significant momentum, with a 9.29% surge over the past 24 hours on substantial volume exceeding $11.2 million. The price has decisively broken above both its 20-day SMA ($0.00000848) and 50-day SMA ($0.00000817), confirming a bullish near-term structure. However, caution is warranted as the RSI reading of 71.43 indicates the asset is entering overbought territory. This combination of strong price action and high RSI suggests the rally may be nearing a point of exhaustion or a potential pullback. Traders should watch for a break and hold above the $0.0000088 level for continuation, with the $0.0000085 SMA zone now acting as key support. Given the elevated volatility, position sizing is critical. Aggressive traders might look for long entries on a dip toward the 20-SMA, while a close below the 50-SMA would invalidate the current bullish setup.