#CryptoReboundStrategy #BitcoinHashRateSurge #BitcoinTurns16 #BIOOpenonBinance
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A staggering volume of Shiba Inu (SHIB) tokens has been recorded on the largest cryptocurrency exchange, Binance, in the last 24 hours. This development comes as the second-largest meme coin on the market is seeing a surge in price.
Increased trading activity raises optimism
A total of 379,270,000,000 SHIB were traded on Binance in a surge among investors in the ecosystem. The trading frenzy on Binance was probably caused by a more than 5% surge in SHIB price performance.
As of the time of writing, SHIB is trading at $0.0000244, up 5.13% in the last 24 hours. Cumulative trading volume is up 58.06% to $761.8 million. Overall, SHIB price has maintained a range between a low of $0.00002319 and a high of $0.00002486. SHIB price chart 1D.
Source: CoinMarketCap
Despite continuing to perform below the previous price levels of $0.00003215 about a month ago, analysts see this as an impressive recovery. Notably, SHIB has defied a death cross pattern and appears poised to consolidate its ongoing price rally. With SHIB approaching the $0.000025 level, a key resistance level, experts believe that if the meme coin breaks through it, it could gain further upward momentum. They believe that increased trading activity, such as that seen on Binance, could fuel a sustained SHIB recovery. Key SHIB Price Levels and Market Predictions Interestingly, some analysts consider the $0.00002 price point to be a psychological one for SHIB.
Some see this as the new floor for SHIB stock price in 2025 if it can maintain its growth performance. SHIB stock’s ability to stay above this price point should give those who are betting on the asset for the long term more confidence in holding it. Investors should also hope that the daily burn mechanism remains active and that the rate is important to maintain price stability. Additionally, the anticipation built by Shiba Inu’s president, Chitoshi Kusama, could add to the positive outlook for the ecosystem and support the price.#ShibaInu About the Author
