SHIB (Shiba Inu) exploded! The meme coin craze triggered a 3% surge. Can the rise continue?

Today, the price of Shiba Inu coin rose by nearly 3% against the backdrop of the overall recovery of the cryptocurrency market. At the same time, the meme coin sector also showed strong performance, showing that investors are turning their attention to this sector again.

Due to the strong performance of the broader meme coin field, the price of SHIB may surge today. The market value of the entire meme coin field rose by 4.15% to $49.25 billion. In addition to Shiba Inu's increase of about 3%, other major players in the field, such as Dogecoin, Pepe Coin, WIF, etc., also rose.

Given the growth potential of this field, market participants seem to be paying close attention. In addition, the low price of meme coins has obviously attracted the attention of investors, especially in the context of overall market volatility.

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As of the time of writing, the destruction rate of SHIB has increased by only 12% in the past 24 hours, destroying 11.07 million tokens. Overall, 410.72 trillion SHIB tokens have been destroyed since the initial supply, with the current circulating supply at 583.31 trillion.

Shiba Inu Coin is facing critical resistance levels of $0.00001968 and $0.00002512, which are crucial to its future upward trajectory.

A breakout above these resistance points could result in significant profits. Meanwhile, the support levels of $0.00002083 and $0.00001627 play a key role in maintaining SHIB’s stability amid market volatility.

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