Over the past 24 hours, the price of Shiba Inu (SHIB) has surged nearly 6%, bouncing back from recent dips.
This rise comes after a period of volatility that saw SHIB briefly dip below $0.0000057.
Today’s price hike places the memecoin’s price just above $0.0000061, and the question on traders’ minds is whether this is the start of a new upward trend or just another short-lived rebound.
What’s driving SHIB’s price surge beyond charts?
Several factors appear to be driving this Shiba Inu price rebound.
To start with, the easing of geopolitical tensions has restored some risk appetite in global markets, and investors are returning to high-volatility assets, and meme coins like SHIB have been among the biggest beneficiaries.
Additionally, there has been a noticeable increase in token burns, removing millions of SHIB from circulation and supporting scarcity narratives.
On-chain activity has also shown a remarkable uptick, with wallets moving more tokens and trading volume increasing significantly.
This combination of heightened participation and token burns gives SHIB a temporary boost, even if overall market sentiment remains cautious.
Another factor is the rise of meme coins generally.
As other tokens like Dogecoin and Pepe rally, investors are diversifying within the meme sector and SHIB benefits from this momentum, attracting traders who look for short-term gains in a highly speculative space.
Technical signals show mixed messages
While the price surge is encouraging, technical charts tell a more nuanced story.
On the 1-hour chart, SHIB has formed a death cross, where the 50-period moving average has dipped below the 200-period moving average.
This pattern often signals short-term bearish momentum and can unsettle traders who rely heavily on technical indicators.
But the higher timeframe charts paint a slightly different picture.
On the 4-hour timeframe, SHIB maintains a golden cross, with the shorter-term average still above the longer-term one.
This divergence suggests that while the token may face short-term pressure, the broader trend could still support upward movements.
Indicators like MACD and volume flow confirm the mixed signals.
Momentum is picking up, but some oscillators still hint at lingering bearish tendencies.
Looking ahead, SHIB’s path is likely to remain volatile.
Short-term movements could swing quickly, but the broader picture shows resilience.
Buyers who entered around $0.0000057 are already seeing gains, but the formation of the death cross reminds everyone that caution is warranted.
A sustained move above $0.0000063 could signal the continuation of the rebound, while a drop below $0.0000057 might reinforce short-term weakness.
In the long-term, analysts project that Shiba Inu’s price could oscillate between a high of $0.0000095 and a low of $0.0000037 in 2026.
https://invezz.com/news/2026/03/24/shib-jumps-6-after-dip-rebound-or-another-meme-coin-trap-ahead/
