Shiba Inu (SHIB) has made headlines for soaring above the $0.000030 mark, marking an important milestone for meme coins. SHIB has attracted attention in the cryptocurrency world with its $7.3 billion trading volume. On the same day, XRP also experienced a strong price increase, heightening excitement in the cryptocurrency market.
Shiba Inu's market cap has surpassed $0.000030, with a trading volume of $7.3 billion
The price of Shiba Inu has broken above the $0.000030 level, which is a key psychological and technical milestone. This significant rise is accompanied by trading volume of up to $7.3 billion, indicating intense market activity and investor interest.
SHIB/USDT 15-minute candlestick chart – Bitget
Such high trading volumes are crucial as they indicate liquidity and market confidence. High trading volume means more buyers and sellers are active, reducing price volatility and increasing the likelihood of sustained price movements. For SHIB, this trading volume indicates strong demand and the potential for further price appreciation.
XRP ignites upward momentum
While Shiba Inu's breakout has made headlines, XRP also exhibited significant price movements on the same day. XRP's upward trajectory highlights broader market dynamics, as both tokens benefit from increased investor enthusiasm and positive sentiment in the cryptocurrency space.
Shiba Inu price prediction: $0.000040 and above
The next direct target for Shiba Inu is $0.000040, with a secondary target of $0.000050. Reaching these levels would mark significant gains for SHIB investors and further solidify its position among the best-performing cryptocurrencies.
Target 1: $0.000040 — a key resistance level and psychological milestone. Breaking through this level may lead to increased momentum.
Target 2: $0.000050 — another key psychological target that could bring substantial profits for long-term holders.
SHIB/USD 4-hour chart – TradingView
Key strategies for trading Shiba Inu coin
To maximize returns while managing risk, traders should consider the following strategies:
Input support level:
Look for a strong support level near the $0.000030 mark to establish a position. Buying at the support level can reduce the risk of immediate pullbacks.
Focus on psychological levels:
$0.000040 and $0.000050 psychological levels are crucial as they often trigger significant price reactions. These levels can act as magnets for price movements driven by market sentiment.
Set stop-loss:
Always use stop-loss orders to guard against downward risk. For SHIB, setting the stop-loss below the key support level can ensure loss control in case of a price reversal.
