Shiba Inu Bounce Back Possible After 30% New Wallet Surge

A Shiba Inu bounce back seems increasingly likely right now, and the numbers actually tell quite a compelling story. The recent 30% surge in new wallet creation has been drawing attention from investors who are watching for signs of renewed momentum. This Shiba Inu bullish activity is supported by on-chain data that shows daily unique wallet counts jumping from around 3,000 to nearly 4,000 between August 7-9, which creates some interesting scenarios for Shiba Inu prediction models and potential price movements ahead.

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Also Read: 10M, 500M SHIB Could Be Worth $2.5B by 2050: Here’s How## Shiba Inu Bullish Signs Emerge With Wallet Growth And Market Momentum

Source: Watcher.GuruSource: Watcher.Guru### Network Activity Points To Potential Shiba Inu Bounce Back

The wallet surge has revolutionized how many analysts view fresh participants entering the SHIB ecosystem right now. These kinds of spikes in new wallet creation have historically pioneered periods of increased market activity, and they often leverage the liquidity along with trading volume that sustained upward trends need.

What’s particularly interesting about this Shiba Inu bounce back scenario is that various major technical developments have optimized it. SHIB actually engineered a breakout above a rising trendline resistance that had been acting as a price ceiling for several key weeks now. This breakout has maximized buyer attempts to regain control of numerous significant market structures, even though the wallet counts have since retreated below 3,000.

The SHIB/USDT technical TradingView chart reveals the breakout above the descending trendline resistance that had been containing price action since early June. The recent price movement shows SHIB testing multiple moving average levels, with the token currently trading around $0.00001340. Volume patterns indicate increased activity during the breakout attempt, while the RSI suggests there’s still room for upward momentum before reaching overbought conditions.

SHIB Technical Analysis Chart Showing Trendline Breakout and Moving Average Levels
Source: TradingViewSHIB Technical Analysis Chart Showing Trendline Breakout and Moving Average Levels
Source: TradingView
The temporary surge still demonstrates that new interest has been architected in support of the current Shiba Inu bullish outlook. Along with the technical breakout, this has developed what many analysts see as favorable conditions for a potential price recovery.

Technical Patterns Support The Shiba Inu Bounce Back Theory

From a technical Analysis perspective, SHIB’s recent breakout has implemented other positive signals alongside multiple essential elements that strengthen the Shiba Inu prediction for potential gains. The 50-day EMA deploys an approach toward what could be a bullish cross above the 100-day EMA, and this development would add more weight to the current Shiba Inu price forecast if additional price momentum confirms it.

AnalysisThe 200-day EMA establishes the next significant resistance level, which currently serves as quite a formidable barrier across several key trading levels. A clear close above this level could actually institute the door for further gains and validate the bullish thesis that various major market dynamics have been building. Some analysts suggest that an additional 10% increase from current levels could enact the anticipated EMA crossover, which medium-term bullish confirmation has reformed.

This kind of signal usually restructures trend-following trader behavior and can help regulate the upward trend, making the Shiba Inu bull run scenario more likely to materialize across multiple strategic timeframes.

Looking Ahead For The Shiba Inu Bounce Back

At this moment, the recent pattern of the drop in the number of new wallets activity does leave some critical short-term risks that analysts should take into account in regard to various important market factors. To sustain the current momentum and make a successful Shiba Inu bull run, the SHIB network will probably need to experience another upward activity surge and trading volume to support the technical breakthrough that has taken place through a variety of significant price levels.

Both new and existing holders must sustain their involvement to support the move, and failure would likely cause the move to stall at the 200 EMA resulting in consolidation, or even a retrace through various levels of support. The interplay between greater wallet inflows and the technical breakout has helped in the creation of what seems to be a positive environment to a potential price recovery, although network participation which entails various key participation metrics will be beholding to carry on. The future trading sessions will even be essential in assessing whether this newfound re-emergence will acquire lasting momentum on multiple key market developments.

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Also Read: Shiba Inu Eyes 1,000% Spike as Shibarium Surpasses $1.5B MilestoneShould SHIB manage to overcome the 200 EMA resistance and provoke the bullish EMA crossing, it could indicate the initiation of a long-term bull run, which might pique institutional interest and allow the upbeat Shiba Inu price predictions that various investment plans hope to showcase across a wide variety of important investment strategies.