After a period of market volatility, Shiba Inu (SHIB) has emerged as a key beneficiary following the U.S. Federal Reserve’s recent interest rate cut. On Wednesday, the Fed made headlines by announcing a 50 basis point rate cut, marking the first time in four years such an action was taken. Although the market initially experienced a downturn, altcoins, including SHIB, have entered a strong bullish phase.
SHIB Sees Significant Price Increase
In the last 24 hours, Shiba Inu’s price has surged by over 6%, reaching $0.000014. This rise is notable for SHIB, a token that struggled to maintain support above $0.000013 in the past week. The increase in price comes alongside a jump in several key metrics, highlighting the renewed optimism among traders.
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SHIB’s trading volume has climbed to $216,950,085, reflecting a 60% increase in just one day. This uptick suggests growing positive sentiment and hints at the possibility of further price rebounds. Daily active addresses, another important network metric, have also shown improvement, contributing to the overall bullish momentum.
Optimism Grows as Whale Transactions Increase
Shiba Inu’s recent rally has attracted attention, but its future trajectory remains uncertain. The token has seen a rise in whale transactions over the past few weeks, which signals significant investor interest and support for its recovery. These large transactions indicate that many have been quietly backing SHIB’s resurgence.
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Growth within Shiba Inu’s ecosystem has also played a role in boosting its price. Though the SHIB burn rate is at a recent low, past token burns have reignited confidence in the project’s long-term plan to reduce its massive supply. Experts believe SHIB could potentially reach $0.000015 if the current bullish trend continues over the coming week.
Shiba Inu’s price jump, trading volume surge, and growing whale activity suggest strong potential for further gains. If the bullish momentum holds, SHIB could see sustained growth in the near term.
