According to U.Today, Shiba Inu (SHIB), a cryptocurrency inspired by the dog breed, has seen a significant 24-hour surge of 15%, sparking interest in the crypto market. After reaching a low of $0.0000127 in Friday's trading session, SHIB experienced a sharp rebound, reversing the previous negative trend. As of the time of reporting, SHIB was up 15.27% in the last 24 hours to $0.00001538.
The overall sentiment in the cryptocurrency market has improved, contributing to the positive movement of various digital assets, including SHIB. Large holders, often known as 'whales,' have shown increased activity, resulting in a 197% inflow surge for SHIB, as per data from IntoTheBlock, which has helped drive up its price.
The Shiba Inu community remains highly active and engaged, continuously supporting the token. Shytoshi Kusama, the pseudonymous Shiba Inu project lead, made his first public appearance at the IVS conference in Kyoto. Kusama, who did not reveal his identity, wore a black haori samurai costume and a Batman-style mask. His appearance and the enthusiasm of the Shiba Inu community may have spurred renewed interest in SHIB.
As Shiba Inu rebounds, the market is closely monitoring SHIB charts for key levels that might indicate the next price movement. However, for SHIB to maintain its upward trajectory, the broader cryptocurrency market needs to continue its positive momentum. A stable or bullish market environment will be crucial for SHIB's sustained growth.
If the SHIB price maintains its current rebound, it will face its next significant hurdle between $0.000015 and $0.000019, where 433.96 trillion SHIB are held by 83,560 addresses, according to IntoTheBlock data. If SHIB prices fall, the $0.000014 level is being watched as intermediate support.