People notice Shiba Inu (SHIB) now because it keeps its new price achievements while other digital assets stay consolidated. SHIB returned to its highest levels during the last 24 hours by overcoming its main obstacle and demonstrating a likely new market direction. The current situation for this asset makes it hard to predict where it will go next within the next few months.
When CoinMarketCap released its data, the SHIB price stood at $0.00001604. SHIB has achieved a milestone by surpassing $0.00001539 resistance and regained ground from $0.00001518 as it works to decrease its weekly decline.
SHIB shows 10.89% weekly growth after declining 2.08% in one day although buyers struggle to maintain support at $0.00001604. The stability of SHIB support at $0.000016 depends on further price fluctuations.
SHIB Trading Volume Drops, But Whales Keep Buying
SHIB sells much less than before since its daily trading volume decreased by 71% to $265.41 million. The market requires improved buying interest and positive sentiment to protect SHIB’s latest increases.
The current decrease in trades does not limit big investors from making substantial SHIB purchases daily. On February 7, blockchain tracking data showed that three trillion three hundred billion SHIB moved between anonymous wallets during one of the largest transfers of the week.
The big buffer investors keep buying SHIB because they just made major moves with their holdings in recent days. A steady increase in this pattern boosts investor opinion about holding SHIB.
SHIB continues to increase in supply value during the past week with its positive burn rates. If investors keep wanting SHIB tokens at their current rate the burn function should aid the market staying positive.
The market watches closely as SHIB tries to stay above the $0.000016 level while also tracking its resistance and support points. Burn activities and whale purchases create growth foundations for SHIB, but a decrease in trading volume challenges its current rally stability.
The market movement for the meme coin depends on both positive and negative market influences right now. The market will determine whether SHIB can hold its price increase or whether more price drops will occur next.
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