Shiba Inu (SHIB) surged 12 percent in the last 24 hours, rallying alongside the broader cryptocurrency market. The price of the meme-based token jumped from $0.00001332 to $0.00001478, breaking key resistance levels and signaling renewed investor interest.
A major driver behind SHIB’s sudden upswing is the significant increase in trading activity. According to CoinMarketCap, the token’s one-day trading volume increased by 164.77 percent to $404.31 million. This peak in volume denotes increasing involvement, which short-term traders and whale action are probably driving.
Whale transactions have experienced a tremendous boom and are fueling the rally. The return of large holders has boosted market confidence, contributing to SHIB’s ability to break past the $0.00001350 barrier. The token is now testing the next resistance at $0.00001495, and it is possible to see a push towards $0.0000151.
Source: CoinMarketCap
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Whale Accumulation and Technical Breakouts Drive Optimism
If buyers can sustain pressure, SHIB could challenge $0.00001574, a level where past profit-taking has triggered reversals. A breakthrough at this point could open the door to the $0.000017 target, although that would require continued market support.
SHIB’s recent breakout above the 50-day Exponential Moving Average (EMA) further supports bullish sentiment. The focus is now on the next resistance level at the 200 EMA, which sits around $0.000016. If SHIB is anyone’s guess and the Bulls maintain momentum, a move above that line could also be bullish for that trend.
Besides technical indicators, ecosystem activity like the active token burn enhances the optimistic view. However, traders continue to be careful as the token’s history has shown eventual insane higher and lower fluctuation patterns. Any shift in sentiment or whale behavior could impact the current trend.
As SHIB is the latest surfer to take advantage of this new momentum, investors are closely watching whether the meme coin can extend its gains. The above correlation between whale accumulation and rising volume against a positive market environment fuels further upside speculations.
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