Shiba Inu Coin Price Surge Anticipated
Shiba Inu coin price is poised to make a significant jump, targeting a 129% increase following a recent recovery from a low point. The meme coin, currently trading at $0.00001871, has seen a sudden spike in price, instilling optimism among investors who are hopeful of further gains.
Investors holding onto SHIB are confident in its potential for further growth, with the coin’s dominance at just under 13.5%.
Concerns Over Low Trading Volume
Often referred to as the Dogecoin killer, Shiba Inu (SHIB) has experienced noteworthy gains, soaring by 19% in the past week alone. This surge positions SHIB as the second-highest weekly gainer among the top 15 cryptocurrencies.
Despite the price hike, data indicates that the trading volume for SHIB has not mirrored the increase, averaging a mere $262 million over the past week. This is significantly lower than the $7 billion trading volume seen during a previous rally in March when SHIB reached its yearly high.
Increased trading activity and volatility are necessary for Shiba Inu to replicate its past performance and scale to new heights.
Heightened Volatility Essential
Recent insights from Santiment, a leading blockchain analytics platform, reveal that SHIB’s volatility hit a three-month peak at 0.0574. However, the number of daily active addresses has remained relatively low, hovering around 3,974 on average.
Historically, substantial price surges for Shiba Inu have coincided with spikes in both volatility and active addresses. To propel SHIB to new levels, a simultaneous uptick in these factors, along with increased volatility, is crucial. This formula could potentially drive SHIB towards a trajectory similar to the remarkable gains witnessed in 2021.
Anticipated 129% Surge in Shiba Inu Coin Price
To achieve a remarkable 129% increase, Shiba Inu must surpass several key thresholds, currently trading at nearly $0.000019 as it eyes the $0.00002 mark.
Given the positive market indicators, SHIB is poised to overcome resistance levels between $0.00002 and $0.000025, with a substantial sell wall of 97,160 addresses in place. A breakthrough at these barriers could pave the way for Shiba Inu to reach new peaks, setting its sight on $0.000045.
Hot Take: Potential for Shiba Inu’s Growth
Shiba Inu’s recent price movements, alongside market dynamics and trading patterns, suggest a promising outlook for the meme coin’s future success. With strategic considerations in place and a potential pathway for considerable growth, investors are eagerly monitoring SHIB’s trajectory for further developments.
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