CandleFocus

$500 Million in Shiba Inu (SHIB) in 24 Hours: Something Big Coming?

Author: Content Editor
Shiba Inu (SHIB) has seen a significant increase in trading volume and derivatives activity in the past 24 hours. The token has experienced a surge of 24.75% in trading volume, amounting to $499.29 million. Additionally, SHIB coin derivatives have seen a spike of 26.31%, totaling over $307 million. There has also been a notable increase in SHIB open interest, with a surge of 14.65% or $53 million. After testing the crucial 100 EMA support level, SHIB has shown a strong price recovery and found support near this technical level. This recovery suggests that SHIB's bullish sentiment remains intact, and if market conditions hold steady, another upward move could be expected soon. Currently, SHIB is trading at $0.00001767, representing a 4.67% increase in the past 24 hours, and its market cap has risen by 5.24% to $10.4 billion. SHIB has shown resilience and strength, with continued community support and recent efforts to burn tokens contributing to price stabilization.

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