Today, Shiba Inu (SHIB) is trading around $0.0000178, showing slight recent growth, up about 3.6% over the past 24 hours, though it remains down by around 4.8% over the past week.
Recent support levels near $0.0000173 have held as SHIB continues to face challenges breaking above $0.0000185, with this level acting as a significant resistance.
Trading volume for SHIB remains relatively high, reflecting strong interest and liquidity, though it also highlights active profit-taking by short-term holders in a volatile market environment.
Current developments in the Shiba Inu ecosystem, like the Shibarium layer-2 solution and projects within SHIB's metaverse, aim to increase token utility, potentially strengthening investor confidence in the long term.
These ecosystem initiatives are intended to differentiate SHIB from other meme tokens by providing additional use cases, including decentralized exchanges and non-fungible tokens (NFTs). In the short term, SHIB's price may respond to broader crypto market trends, where regulatory news and shifts in investor sentiment have an impact
Amid increased price volatility in the crypto market, the SHIB memecoin has dropped 4.27% within the past week but has added ~1% over the past month. Notably, with a market capitalization of $10.243 billion, this memecoin has secured the 12th position in the global cryptocurrency list.
