$BTC
Shiba Inu has surged 9.3% over the past week as a wave of bullish momentum swept through the market following Bitcoins break above the $70000 mark. This uptick has pushed SHIB to reclaim critical monthly support levels around $0.00000629 as the broader meme coin sector experiences a localized recovery.
The recent price action is largely attributed to a massive short squeeze triggered by cooling inflation data which saw Bitcoin hitting new local highs and lifting major altcoins in its wake. Trading volume for SHIB has spiked by over 70% in the last 24 hours signaling renewed interest from retail participants and a steady
increase in new wallet holders
joining the ecosystem.
Despite the 9.3% gain the asset faces a major psychological and technical hurdle at the $0.00000700 resistance zone. Market analysts note that while derivatives and futures markets have flipped bullish on-chain whale activity remains subdued. For a sustained breakout SHIB needs to flip $0.00000700 into support to target the next resistance at $0.0000091. Failure to hold the current support at $0.00000629 could lead to a consolidation phase as the market awaits further updates
from the Shibarium layer-2 network.
MetricCurrent DetailCurrent
Price$0.000006517-Day
Change+9.3%24H
Volume$235.78MMarket Rank#30
