Shiba Inu (SHIB), the dog-themed meme coin, recorded a significant surge in trading volume and price amid activity in the cryptocurrency market.
Shiba Inu's Trading Volume Surge
According to CoinMarketCap, Shiba Inu's trading volume increased by 51.58%, reaching $519.18 million. This trend follows increased activity around Ethereum, which has surpassed the $3,000 resistance level.
Shiba Inu's Price Indicators
Shiba Inu's price also showed an increase, climbing from a low of $0.00001368 to an intra-day high of $0.00001479. At the time of publication, Shiba Inu was trading at $0.00001441, representing a 5.16% rise. Technical indicators suggest that the meme coin has flipped its seven-day and 30-day moving averages, confirming a bullish trend.
Potential to Reach $0.000020 Price Level
Shiba Inu has the potential to retest the $0.000015 level if the ecosystem can sustain its current momentum. Investors are also focused on Shiba Inu reclaiming the $0.000020 level, from which the meme coin slipped since January 2025. Given the recent surge in trading volume, the ecosystem may push for higher levels.
Shiba Inu displays signs of growth in both volume and price. Given the current trends, the emerging market may strengthen the positions of the meme coin.
