Shiba Inu (SHIB) is showing positive trends in the crypto market with rising indicators over the past week. This memecoin is trying to break through key resistance.
SHIB Rises and Tests Important Resistance
The current price of Shiba Inu is $0.00001292, having increased by 1.94% in the last 24 hours. The memecoin faces a psychological resistance level at $0.000013, which it has not been able to successfully break through for several weeks.
Technical and Fundamental Signals for Potential Surge
The trading volume of SHIB surged by 14.44%, reaching $173.83 million, indicating renewed interest from investors. A record burn rate of 3,227% was recently recorded, destroying 888.4 million tokens via the ShibTorch platform, which may exert upward pressure on the price in the medium term.
Community and Shiba Inu Ecosystem
Whale activity has also increased by 95.91%, which is generally a bullish signal. Despite these positive prospects, 82.96% of wallets holding SHIB are currently at a loss, highlighting the difficulties the community faces after the sharp correction in the memecoin market.
Shiba Inu continues to show upward trends; however, maintaining a high trading volume and active token burns will be necessary to break the key $0.000013 level.
