Shiba Inu Coin Price Looking To Make 129% Surge, But There’s A Catch
Release: 2024/07/16 16:44 Reading: 901
Shiba Inu Coin Price Aims for 129% Surge
Shiba Inu coin is poised for a significant rally, aiming to gain 129% and reach its May high. The meme coin has rebounded from a low of $0.00001473 and currently trades at $0.00001871. This price spike has boosted investor confidence in the asset's potential for further growth.
Investor Sentiment Remains Positive
Shiba Inu's dominance remains below 13.5%, indicating that investors are holding onto the coin rather than selling. This positive sentiment is a promising sign for the coin's future performance.
Low Trading Volume Raises Concerns
Despite its price increase, Shiba Inu's trading volume has averaged only $262 million over the past week, significantly lower than the $7 billion average during the rally in early March. This low volume suggests that the increase in price may not be fully supported by buying interest.
Increased Volatility and Activity Required
To achieve a substantial price increase, Shiba Inu needs to increase its trading activity and volatility. Historically, significant price increases in the coin have occurred when both volatility and active addresses have surged simultaneously.
Shiba Inu's Price Targets
To achieve a 129% gain, Shiba Inu must overcome resistance levels between $0.00002 and $0.000025. If these barriers are breached, the path is clear for the coin to target $0.000045.
Conclusion
The Shiba Inu coin price is aiming for a 129% surge, supported by positive investor sentiment. However, the coin needs to address concerns about low trading volume and increase volatility and active addresses to achieve its ambitious price target.
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