Shiba Inu (SHIB) showed strong momentum, breaking resistance and starting the uptrend. SHIB's current price is $0.00002779, which has risen significantly, increasing its market cap by 15.96% to $16.89 billion. The 24-hour trading volume increased sharply by 94.86% to $1.97 billion.
SHIB price exhibited a minor and unstable uptrend from the $0.00002472 low, identifying this low as an important support level. Today's price action broke through several minor resistance points, revealing strong buying pressure. However, the peak price of $0.00003000 currently represents a key resistance level against $SHIB$.
While confirmed support at $0.00002472 is key for future gains, removing resistance at $0.00003000 will be crucial for sustained upside. This level of resistance is the highest SHIB has ever achieved and represents a significant challenge.
Coinglass data shows that trading volume increased 120.36% this week to $541.18 million. Open interest on the SHIB futures contract increased 10.95% to $121.66 million. Although the long/short ratio of 0.9654 indicates that short positions dominate, overall trading activity remains strong.
