Shiba Inu （SHIB） witnesses a remarkable surge in trading volume, with $100 million traded
within 24 hours, indicating a potential shift in market sentiment.
Points
- SHIB trading volume surged by 56.12% to $100 million.
- Rising trading activity across major exchanges.
- SHIB price dipped 3.57% despite increased volume.
- Market sentiment may be shifting towards a potential bull run.
Shiba Inu （SHIBUSD） has witnessed significant developments as uncertainty looms over the crypto market. The price movement of SHIB paints a dark picture as investors await a potential rebound. Nevertheless, the sentiment might start to shift in the coming days.
The 24-hour trading volume of SHIB has seen a remarkable jump, soaring 56.12% to hit the $100.02 million level, according to CoinGlass. This latest development provides hope to the Shiba Inu community, which has been patiently waiting for a potential price rally from the meme coin.
Notably, SHIB is witnessing rising trading activity across all major crypto exchanges. Data reveals that $51.73 million of this volume comes from OKX, $18.32 million from BingX, $11.86 million from CoinEx, and $6.51 million from Bitget, among others. This shows that investors are showing notable interest in the popular meme coin and have started to buy the dips.
What Does It Mean for Shiba Inu’s Price?
As of writing, the price of SHIB has dipped 3.57% to $0.00001589 during the last 24 hours. Moreover, it has remained down 7.25% over the past 30 days. These figures reflect the current bearish sentiment in the market and confirm that Shiba Inu’s price has stayed in a consolidation zone.
However, the rising trading activity suggests that market sentiment may be shifting from this point. One major indicator hints at a potential bull run on the horizon. According to TradingView, the Relative Strength Index （RSI） of Shiba Inu is at the 38.98 level. Typically, an RSI around the 40 mark reflects neutral sentiment. However, it also indicates a slight shift in favor of the bulls.
An RSI in this zone means the coin has confirmed its support level and may be heading toward an upward trend. Overall, not all is lost for SHIB, and the market might witness a reversal soon.
解説
- The surge in SHIB’s trading volume indicates growing interest from investors, suggesting potential upward price movement.
- Technical indicators like RSI hint at a shift towards bullish sentiment, despite the current consolidation phase.
- Increased trading activity across major exchanges reflects market confidence in SHIB’s long-term prospects.