Here’s the Shiba Inu price analysis for Nov. 10
Shiba Inu price jumps as hopes of the U.S. government shutdown end and $1T liquidity boost lift memecoins, eyeing a breakout above $0.00001050.
- Shiba Inu price has reclaimed key support at $0.00000998 and is now targeting a breakout above $0.00001050, which could open the path toward $0.000013.
- Optimism over a potential end to the U.S. government shutdown and the return of $1 trillion in liquidity have boosted sentiment across risk assets like memecoins, benefiting Shiba Inu price.
Shiba Inu price technical analysis
Shiba Inu (SHIB) price is breaking out of a descending channel, having recently rebounded from its lower boundary retest near $0.00000930. The recovery was confirmed by a clean break through the $0.00000998 horizontal level, which now acts as short-term support.
At press time, Shiba Inu price is trading around $0.00001006, approximately 4% below the key resistance at $0.00001050. A 4H candle close above this level with follow-through would confirm a breakout from the multi-week descending structure.
The RSI currently sits near 60, suggesting that there’s room for further upside before reaching overbought conditions — leaving space for a push toward the $0.00001050 level. The 9, 21, and 55 EMAs have recently aligned in a bullish stack, confirming a short-term trend reversal in favor of bulls.
If Shina Inu price breaks and holds above $0.00001050, it could open the path toward $0.00001150 and $0.00001298, marking approximately 15% and 30% potential upside from current price, respectively.
Shiba Inu price rally is unfolding as part of a broader market-wide resurgence, fueled by improving macro liquidity conditions and optimism that the U.S. government shutdown may soon end. The return of roughly $1T in liquidity has reignited risk appetite in crypto market, lifting major altcoins and spilling over into memecoins, with SHIB and DOGE among meme top gainers.
