On the daily chart, it can be observed that the price of SHIB has been moving below the resistance line since January and reached a local minimum at $0.0000048. After that, an elongated lower shadow of the candle was formed, which served as the beginning of an upward movement.

After four unsuccessful breakout attempts, the popular copper coin was finally able to overcome the trend line and reach a significant resistance zone, after which it declined slightly.

The daily Relative Strength Index (RSI) continues to rise and remains above the 50 mark, which indicates the presence of a bullish trend. While the project team announced the launch of the Puppy net update, which will lead to the migration of Shibarium from the Goerli network to the Sepolia network. This step is part of the continuous evolution of the blockchain aimed at increasing scalability and efficiency. In addition, the update will introduce a new mechanism that automates the burning of coins from the beginning of January.