Shiba Inu (SHIB) shows confidence at the $0.000011 support level following recent price recovery. Amid rising trading activity, the potential for a significant breakout is being actively discussed.
Support and SHIB Price
SHIB price has rebounded by 12%, maintaining stability at the $0.000011 support level. This movement occurred amidst overall market strength and positive news from the U.S. Technical data suggests the price is currently oscillating within a resistance range of $0.000011 to $0.000014.
Market Activity
The trading volume for SHIB surged by 56% in the past 24 hours, indicating increased buyer interest. This uptick is linked to whale activity and renewed retail demand. However, on-chain metrics remain flat, with only a slight increase in the daily burn rate.
Holder Sentiment
Despite the slowing burn rate, holder sentiment remains bullish, with 88% of SHIB holders confident in the token's future. Traders are increasingly questioning whether the current conditions will lead to a significant breakout or simply a short-lived rally.
The support level at $0.000011 halts the decline of SHIB, laying the groundwork for potential growth. The future trend will depend on overall market activity and the behavior of major investors.
