SHIB trading volume surges to 37 trillion, can it continue to rise?
A few days ago, Shiba Inu's trading volume surged to a staggering 37 trillion SHIB, indicating increased market activity and interest. Investors are watching this volume surge as a key signal of increased demand and trading momentum.
They are wondering if this will continue SHIB's recent gains or if it is just a one-time surge. Large investors, or whales, have been actively trading SHIB and may be accumulating or selling in large quantities, which can usually be indicated by such a sharp increase in trading volume.
High trading volume tends to increase liquidity, which can temporarily help stabilize price fluctuations. A surge in trading volume can also mean that the rally is overdone, suggesting a possible pullback, but for Shiba Inu, it may mean that a strong support level has formed around its current price.
The price of SHIB recently rose sharply, reaching a high of around $0.000032 before encountering resistance and retreating slightly according to the chart's technical indicators. The key question remains whether SHIB's price will continue to rise or begin to consolidate as momentum weakens, although the surge in trading volume indicates strong market sentiment and buying power. SHIB needs sustained high buying volume to maintain or even extend this growth momentum. If the interest of major shareholders persists and retail investors also follow suit, SHIB may try to break out of the $0.000028 range again and set new highs in the near future. However, if the trading volume returns to normal levels, the recent gains may lose momentum, which may lead to consolidation or even decline.
