The number of transactions on the Shiba Inu blockchain has skyrocketed, reaching 3.4 trillion SHIB in a single day. This has sparked discussions about the potential resurgence of the popular meme cryptocurrency.
Shiba Inu Transaction Volume Surge
On-chain data indicates SHIB's transaction volume averages 2.73 trillion SHIB daily, peaking at 4.19 trillion SHIB on March 16, 2025. This surge suggests active asset usage by investors, historically preceding significant price movements.
Current SHIB Price Dynamics
Currently, SHIB is positioned between $0.0000125 and $0.0000127, with resistance around $0.0000140. Despite increased volumes, the price struggles to break key resistance levels. A decline below $0.0000120 could lead to additional downward movement if SHIB fails to hold this level.
Outlook and Potential for Shiba Inu
Should the transaction volume increase stem from accumulation by large holders, SHIB might experience fresh buying pressure, pushing the price toward the next resistance level at $0.0000150. However, if the volume spike is driven by short-term trading, the price might remain stagnant or decrease.
Whether this volume spike results in a lasting rally or if SHIB remains trapped in consolidation will be determined in the days ahead. Investors should monitor support levels and the overall market sentiment before taking action.
