In an exciting turn of events for investors, Shiba Inu (SHIB) has experienced a remarkable recovery over the past day, posting a gain of 9.09%. After experiencing a significant downturn, the popular memecoin has shown signs of renewed buyer activity, leading to a bullish crossover.

The past week has not been kind to SHIB, as it reached a seven-month low. However, the energetic rebound in recent hours saw the price rise from $0.000010 to $0.00001213. As of the latest updates, SHIB is trading at $0.00001212, indicating a strong 9% increase in just 24 hours. This uptick also follows a steep decline of approximately 23.79% over the past month, revealing how sharply it has bounced back.

This price recovery signals a significant shift in market sentiment toward Shiba Inu. The memecoin's Weighted Sentiment indicator turned positive for the first time after being in the red for three consecutive days, hinting at growing optimism among investors. Many have capitalized on the recent dip, seizing the opportunity to buy at low prices, which has contributed to the upward trend.

Supporting this market revival are recent statistics showing that both Delta and Order Imbalances have shifted positively, indicating a surge in buy orders compared to sells. Such buying pressure is further evidenced by SHIB's flow into exchanges. Notably, Coinglass reports that SHIB's exchange outflows surpassed inflows, with a netflow of -60.84k. A negative netflow often signifies strong accumulation among investors, suggesting they are positioning themselves for a potential price rebound.

So, can Shiba Inu sustain this momentum? Analysts from AMBCrypto note that SHIB has successfully tested the $0.000010 support level, bouncing back robustly to $0.000012. This indicates that buyers are actively defending key price levels, which bolsters confidence in future growth.

The recent bullish crossover in Shiba Inu’s Relative Strength Index (RSI) reinforces the notion that the buying momentum could continue, paving the way for further price increases. If positive market sentiment persists and buying activity remains strong, SHIB may ultimately break through resistance to reach the $0.000013 level.

However, market conditions can shift quickly. Should bullish enthusiasm wane, there's a possibility for a pullback, which could see the memecoin retreat towards the $0.0000115 support level.

As the Shiba Inu community watches closely, all eyes are on whether the optimistic trend will hold or if new challenges will emerge. One thing is for sure: the world of memecoins remains as unpredictable and thrilling as ever!