Shiba Inu (SHIB) is riding a bullish wave, maintaining its uptrend this week. Over the past 24 hours, Shiba Inu’s price jumped by $0.00001937, marking a 3.54% increase. Recently, the token’s performance has solidified its bullish push, soaring by 16.62% in the past week.
Shiba Inu’s recent rally has extended its market capitalization, once again surpassing Avalanche (AVAX). Currently, Shiba Inu’s market valuation stands at $11.43 billion, slightly ahead of Avalanche’s $11.33 billion. This achievement highlights Shiba Inu’s growth, comparing favorably with other altcoins.
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Targeting New Resistance Levels
Despite using Avalanche as a benchmark, Shiba Inu has more ambitious goals. The token aims to breach the $0.00002 resistance level, which would mark the end of one of its longest negative stretches this year. Although it took months to surpass the $0.00001 price mark, current metrics indicate substantial growth ahead.
Source: CoinMarketCap
One critical metric is the 24-hour trading volume. Shiba Inu’s trading volume has reduced losses, with over 2.6 billion SHIB traded in 24 hours. This volume reflects the highly bullish sentiment within the Shiba Inu ecosystem. With such momentum, the token’s price might reach $0.000025 by the end of the month.
Sustained Growth And Whale Accounts
If the rally continues, whale accounts maintain their massive buying, and other ecosystem fundamentals remain intact, Shiba Inu’s long-term growth ambitions could receive a significant boost. Moreover, the token’s intriguing growth trends suggest potential for even higher prices.
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Shiba Inu is on a strong bullish edge, with impressive trading volumes and market performance. Its upward trajectory and growth potential make it a noteworthy contender in the altcoin space.
The coming weeks will be crucial in determining how high SHIB can rise, but current indicators are promising.
