Shiba Inu’s Daring Feat: A Tale of Two Cryptocurrencies 🐕💰

It is a truth universally acknowledged, that a cryptocurrency in possession of a strong institutional backing, must be in want of a significant price gain. And so, dear reader, we find ourselves in the midst of a most thrilling tale, wherein Shiba Inu, that most intrepid of cryptocurrencies, has smashed through the triangle pattern against Bitcoin, with a fervor that can only be described as bullish 🐂.

  • Institutional trading, that great driver of fortunes, has propelled SHIB to dizzying heights, with a strong resistance at around $0.00001250.
  • Shiba Inu’s price, in a daring feat, has reached a one-month high against Bitcoin, charting a course that can only be described as upward 🚀.
  • Alas, dear reader, the outlook against its rival, Dogecoin, appears less than promising, a fact that must surely give pause to even the most ardent of SHIB enthusiasts 🐕.

As we find ourselves in the midst of this most thrilling tale, we must take note of the dollar-denominated price of Shiba Inu, which has hit a one-month high, a feat that can only be described as remarkable. And yet, dear reader, the outlook against Dogecoin, that most formidable of rivals, appears less than promising, a fact that must surely give pause to even the most ardent of SHIB enthusiasts 🐕.

SHIB, in a daring feat, has gained 5.2% in the past 24 hours, reaching a high of $0.00001255 on Coinbase, a level last seen on June 12. As of writing, the cryptocurrency teases a breakout into bullish territory above the widely tracked 50-day simple moving average (SMA) at $0.00001242.

Key Insights from the World of Artificial Intelligence:

  • Institutional flows, that great driver of fortunes, drove prices from $0.00001215 to a peak of $0.00001250 between 19:00 and 20:00 on July 9, with an exceptional institutional volume of 1.25 trillion tokens.
  • Strong institutional resistance, that most formidable of foes, has been established around the $0.00001250 level, significantly exceeding the average daily institutional volume of 491 billion tokens.
  • An additional 2.54% institutional gains occurred during the final trading hour from July 10, 03:56 to 04:55, advancing from $0.00001244 to $0.00001247.
  • A session low of $0.00001238, established around 04:15, indicates what institutional traders view as strong technical support within the $0.00001238-$0.00001240 range.

The Great SHIB/BTC Breakout:

The SHIB/BTC pair, listed on CoinEx, which represents SHIB’s BTC-denominated price, rose 3.70% Wednesday (UTC), rising out of a triangular consolidation pattern identified by trendlines connecting June 24 and July 3 highs and June 22, June 27 and July 4 lows, according to data source TradingView.

The breakout, dear reader, follows a prolonged year-long downtrend and indicates that the bulls have emerged victorious, having successfully absorbed supply during the triangular consolidation.

The pair, therefore, could continue to gain ground in the short term, supported by a positive MACD histogram, which points to a strengthening of upward momentum. The swing low from May 7, represented by the horizontal line on the chart below, could offer resistance on the way higher.

The SHIB/DOGE Conundrum:

SHIB, dear reader, could underperform DOGE in the coming days, as the Binance-listed SHIB/BTC pair has penetrated a trendline support, marking the end of the recovery rally from May lows.

Furthermore, the Guppy multiple moving average indicator appears poised to cross bearish, indicating a negative shift in momentum. The bear cross occurs when the band of short-term exponential moving averages (EMAs) moves below the long-term EMAs.

The pair, dear reader, needs to top the June 24 high of 0.0000719 to negate the bearish outlook.

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2025-07-10 09:34