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Shiba Inu (SHIB) Breaks 11-Month Downtrend After Japan Approval

Source Beincrypto

Shiba Inu (SHIB) price has closed above its 20-week moving average for the first time since September 2025, ending an 11-month downtrend.

The break arrived in the same week Japan approved a Nomura-backed exchange to list SHIB. The token now trades at $0.00000528, down 4.27% in 24 hours, while it retests the breakout.

Japan Says Yes to Shiba Inu

Japan’s Financial Services Agency registered Laser Digital Japan as a crypto asset exchange service provider. The subsidiary of Nomura’s digital assets arm secured the first new exchange approval in the country in four years.

Shiba Inu & XRP Enter Japan's New Crypto InfrastructureLaser Digital Japan has completed registration as a crypto asset exchange service provider in Japan.The Nomura backed firm will initially handle six tokens, including ethereum:0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce,… pic.twitter.com/5aKNvyh6hN
— BSCN (@BSCNews) August 24, 2026

SHIB is one of six launch assets. It sits beside Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Litecoin (LTC), and it is the only meme coin on that list. The token joined the Japan Virtual and Crypto Assets Exchange Association Green List in November 2025.

Meanwhile, whales moved in the same direction. An unidentified wallet withdrew 280.8 billion SHIB from OKX on August 24, worth roughly $1.56 million. Exchange reserves fell to 86.98 trillion tokens. SHIB ranks 31st by market capitalization at $3.11 billion.

Shiba Inu Price Breaks an 11-Month Downtrend

The weekly chart shows the trend change clearly. SHIB rejected the 20-week moving average near $0.00001000 in January and again near $0.00000650 in May. It has now closed above it.

Structure improved underneath. A June low near $0.00000405 was followed by a higher low near $0.00000445 in early August. The week of August 17 gained about 25% on heavy volume.

SHIB weekly chart / Source: Tradingview

However, that candle wicked to roughly $0.00000620. It stopped just short of the 0.382 Fibonacci resistance at $0.00000636, a level that has capped every rally since February.

One Level Decides It

The daily chart places SHIB inside an ascending parallel channel. Price tagged the upper band near $0.00000600 on August 21, then reversed.

Support at $0.00000531 now matters most. It marks the channel midline, the July 26 swing high, and the 20-week moving average at once. Below it sits the $0.00000499 level, and the channel base near $0.00000450.

Reclaiming $0.00000553 would open $0.00000600 and then $0.00000636. The relative strength index has cooled to 58. Its twin peaks near 77 suggest momentum did not expand on the second push.

SHIB daily chart / Source: Tradingview

Therefore, two caveats temper the case. A recent 441% burn rate spike removed only about $230 worth of SHIB, and Shibarium activity remains near 1,180 daily transactions.

A team member has teased news from Shytoshi Kusama and Kaal Dhairya before August 31. Neither has confirmed it. That window closes inside the weekly candle that settles this retest.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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