Shiba Inu price analysis (Bullish) — 0.00 USDT (+0.23% 24h)

SHIB/USDT is showing intriguing technical signals after a 23.1% surge in the past 24 hours. The token currently trades at $0.00000867, sitting below both its 20-day SMA ($0.0000088255) and 50-day SMA ($0.0000088138), suggesting potential resistance overhead. However, the extremely oversold RSI reading of 29.23 indicates significant selling exhaustion and sets the stage for a potential relief rally. Volume has been substantial at over $11 million, confirming genuine buyer interest at these levels. The current volatility of 3.71% presents both opportunity and risk for short-term traders. For position traders, accumulation near current levels with stops below recent lows could prove rewarding, while swing traders might wait for a decisive break above the 20-day SMA for confirmation of trend reversal. The meme token’s ability to hold above critical support despite broader market uncertainty demonstrates underlying strength.