Market enthusiasm
In a surprising turn of events, Shiba Inu (SHIB) remained resilient above the $0.00003 resistance level, benefiting from a combination of its fundamentals and broader market noise.
The Shiba Inu aims to obliterate another zero, marking the next pivotal target for bullish traders, a task that appears achievable given its notable surge of over 60% over the current week (WTD).
As of writing, ownership of a Shiba Inu has exchanged hands at $0.00003505, reflecting an increase of 4.05% over the last 24 hours.
Price metrics revealed interesting trends over the past week, with the Shiba Inu coin rising from a low of $0.00001998 on March 3 to a peak of $0.00004533 on March 5. This increase is consistent with Bitcoin's recent rise to an all-time high.
The Shiba Inu price reversal was an unexpected response to unprecedented selling activity, enabling most long-term HODLers to take profits as the coin reached levels not seen in two years.
The price of the Shiba Inu succumbs to an interesting buying trend evident by a notable 36% jump in trading volume, reaching $4,796,986,307.
Focus on another teacher
For the Shiba Inu, their growth has been stunted for a long time, last seen in January 2022. However, the ambitious SHIB army has a higher goal in mind. The community hopes to push SHIB to trade at $0.0001, setting a new all-time high surpassing the previous reading of $0.00008845.
With many analysts predicting a major rally in the current bull market cycle and the positive developments it brings to altcoins, the Shiba Inu is poised to leverage these external fundamentals to reach unprecedented levels.
