$1.46 Billion SHIB in 24 Hours: What’s Happening?

Shiba Inu (SHIB) is experiencing a remarkable surge in trading activity, with $1.46 billion in volume over the last 24 hours, equivalent to 74 trillion SHIB. This spike indicates heightened interest from traders looking to capitalize on potential short-term gains.

Key Highlights

Increased Volatility: SHIB’s recent price volatility has attracted significant trading volumes as investors seek to profit from market swings.

On-Chain Activity: According to Santiment, SHIB’s on-chain activity has surged, with whale transactions and circulation hitting 10-week highs. Social media discussions around SHIB and related projects like Shibarium are also on the rise.

Market Sentiment: The overall sentiment in the altcoin market remains positive, contributing to SHIB's popularity as one of the top projects driving market interest.

Price Movement

SHIB gained momentum after crossing the $0.000016 barrier on September 26. It has since extended its upward trend, breaking above the daily SMA 200 at $0.00002024 and reaching a high of $0.00002169.

Current Status: As of now, SHIB is trading at $0.00001973, reflecting a 1.20% increase in the last 24 hours and a 36% rise over the past week.

What’s Next?

Bullish Outlook: If bulls can maintain momentum above $0.000020, SHIB’s rally may target $0.000029.

Caution Ahead: Conversely, if the price falls below $0.000018, it could signal profit-taking and result in range-bound trading between $0.000014 and $0.000020.

Stay tuned as SHIB continues to make waves in the market!#CATIonBinance #BTCPredictedNewATH #FTXSolanaRedemption #BTCPredictedNewATH #Write2Earn!