Key Notes
- SHIB benefits from Ethereum’s strong performance as both cryptocurrencies share the same blockchain ecosystem.
- Technical analysis reveals a Golden Cross formation with the 13-day moving average crossing above the 49-day average.
- Bulls must defend the $0.0000125 support level to potentially reach the $0.000016 resistance target.
Shiba Inu
SHIB
$0.000013
24h volatility:
5.9%
Market cap:
$7.59 B
Vol. 24h:
$262.36 M
continued its bullish climb on Tuesday, July 15, gaining another 2% to hit $0.000014, the highest since May. This latest move comes as Ethereum
ETH
$2 974
24h volatility:
1.7%
Market cap:
$358.77 B
Vol. 24h:
$38.79 B
recorded a 16% weekly surge, surpassing Bitcoin’s
BTC
$116 748
24h volatility:
4.6%
Market cap:
$2.32 T
Vol. 24h:
$70.83 B
7% rally during the same period. This renewed ETH price momentum is spilling into Ethereum-based projects like Shiba Inu.
Shiba Inu Average Transaction Size | Source: IntoTheBlock
On-chain data from IntoTheBlock confirms a major shift in SHIB trading behavior. The average transaction size on the Shiba Inu network surged 350% in the last ten days, rising from $2,600 to $11,700 between July 5 and July 14.
This metric measures the average dollar value moved per transaction on the network. When average transaction size grows faster than price, it signals traders are actively placing larger bets, often a bullish indicator.
If momentum sustains, SHIB could challenge the $0.000015 resistance in the coming trading sessions.
Shiba Inu Golden Cross Signals Bullish Breakout Toward $0.000018 Target
Shiba Inu’s technical indicators now favor a continuation of the uptrend. A Golden Cross recently formed on the daily chart as the 13-day moving average crossed above the 49-day average. Historically, this setup has preceded major bullish swings for SHIB.
Shiba Inu Price Forecast
SHIB price action has consistently closed above the $0.00001300 short-term support level over the last four sessions. The MACD histogram shows bullish momentum building, and the MACD line remains well above the signal line, confirming upward pressure.
If bulls defend the $0.0000125 mid-level support zone, SHIB could attempt a breakout toward the $0.000016 level marked on the chart. A clean flip of that resistance could open the door for a rapid move toward the $0.000018 local top, last seen in March.
However, failure to hold above $0.000012 could trigger a short-term correction toward $0.00001100.
Solaxy Crypto Presale Heats Up as SHIB Momentum Builds
As Shiba Inu traders eye the next leg up, Solaxy ($SOLX) is gaining serious traction across meme coin circles. Touted as the first Solana Layer 2, Solaxy is attracting speculative interest with 70% staking rewards and massive presale incentives.
Solaxy Presale
With $SOLX tokens now live and claimable, traders can visit the official Solaxy website to stake and earn rewards ahead of the upcoming DEX listings.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
