The price of Shiba Inu (SHIB), a popular meme coin, has increased by over 50% in the past week, reaching a six-month high of $0.000025. This rally is driven by the broader meme market rally and has been supported by a significant rise in daily active and new addresses involved in SHIB transactions. The surge in address count indicates growing demand and an influx of new participants, supporting a bullish outlook. SHIB's open interest, which measures unsettled contracts in the market, has also increased, suggesting fresh liquidity entering the market and further supporting a continued rally. If the current uptrend persists, SHIB's price could break above the $0.000028 resistance level and reach $0.000032. However, a bearish sentiment could lead to a pullback towards $0.000019 before establishing support.



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