Shiba Inu Surges 3.84%: Will SHIB Retest Its All-Time High?

Shiba Inu (SHIB) has seen a notable 24-hour price increase, climbing 3.84% to trade at $0.00001220. The meme coin has displayed strong momentum, bouncing off its 24-hour low of $0.00001135 and reaching a high of $0.00001235.

SHIB’s market cap now stands at $7.19 billion, reflecting its price surge. However, trading volume over the last 24 hours has dropped 35.26% to $303.14 million. This decline suggests reduced speculative interest, but long-term holders seem confident.

24-hour price chart. Source: CoinMarketCap

SHIB’s Historical Context

Despite today’s positive movement, Shiba Inu is still far from its all-time high of $0.00008845 set in October 2021.

Shiba Inu remains 86.23% below its peak, leaving room for future gains. On the flip side, it has skyrocketed 14,918,336.67% from its all-time low of $0.00000000008165 in September 2020, proving its explosive growth potential.

What’s Next for SHIB?

SHIB’s recent price action shows resilience, but it must break key resistance at $0.00001250 for a sustained rally. If it does, momentum could push it toward $0.00001300. However, a failure to hold current levels could see a retest of $0.00001150.

With investor sentiment improving and the market strengthening, SHIB’s next move will be crucial. Will its upward trend continue, or is this just a temporary bounce?

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.