Shiba Inu Surges, Erasing Zero: What’s Next for SHIB?

Shiba Inu has surged by 7% in the past 24 hours, surpassing the $0.00001 mark once again.
Over 227,830 SHIB addresses purchased a total of 162.64 trillion SHIB between $0.000008 and $0.000010.
The next significant hurdle for SHIB is the $0.0000105 level, which, if sustained, could lead to further gains.

In the past 24 hours, the price of Shiba Inu (SHIB) has experienced a notable increase of 7%, breaching the crucial $0.00001 threshold once more. This resurgence follows a period of consolidation and marks a significant milestone for SHIB holders.

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A substantial number of SHIB addresses, totaling over 227,830, participated in the recent buying spree, accumulating approximately 162.64 trillion SHIB tokens within a price range of $0.000008 to $0.000010. The average purchase price settled at around $0.000009, indicating strong demand at these levels.

Looking ahead, SHIB faces a key challenge as it approaches the $0.0000105 level, a crucial resistance point that has been tested previously. Sustained price action above this level could potentially fuel further upward momentum, with the next target being the $0.000011 mark.

This price surge coincides with a broader market rally, with Bitcoin reclaiming the $57,000 milestone for the first time in recent months. The positive sentiment surrounding Bitcoin has spilled over into smaller altcoins like Shiba Inu, driving speculative interest and contributing to SHIB’s upward trajectory.

In terms of trading volume, SHIB has seen a significant increase, soaring by 201.95% to reach $360.1 million worth of trading activity within the past 24 hours. This surge in volume underscores the heightened activity and investor interest in SHIB amid its price rally.

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Bhea Lacsamana

Bhea is a fintech journalist specializing in crypto, with a unique blend of roles as a content creator, anthropologist, and qualitative researcher. Her articles dive into both financial technology and cultural traditions, reflecting her diverse interests. Catch her immersed in a book where her love for learning thrives.