Shiba Inu (SHIB) is currently taking a relative breather from its upward momentum, as early Friday trading suggests that the bullish market participants are prevailing. According to data from CoinMarketCap, Shiba Inu is being traded at $0.000008357, marking a 2.85% decrease over the past 24 hours. This price drop has led to a deviation from SHIB’s weekly growth curve, which had previously recorded a total growth of 6.84%. Despite this decline, Shiba Inu’s ambitious targets have not veered off course. There continues to be a dominant surge in the trading volume of the asset, with this metric rising by 61.01% to reach $282,688,671 at the time of writing. The ongoing buying momentum serves as a promising indication for potentially erasing another zero in the near future.
Looking at Shiba Inu’s price history, the meme coin dropped to a low of $0.000006724 on October 19 but managed to recover. These resistance levels include $0.000007, $0.0000075, and the final point at the $0.000008 area. There have been at least three crucial resistance levels in the past month. If SHIB continues to breach consecutive price levels, reaching the $0.00001 mark becomes a feasible achievement in the medium term.
Convergence of positive trends: Shiba Inu has all the reasons to continue its upward trajectory. Several indicators help determine a healthy market in the green zone at this time, including short-term and historical price expectations. With more transactions being recorded per second without facing any significant pressure, this contributes to the supply crisis distinguishing the protocol. Additionally, Shibarium has maintained a sufficient pathway for SHIB to continue carving its way. Overall, Shiba Inu stands as one of the protocols that has managed to sustain community enthusiasm for its yet-to-be-released products and services. Its sustainable release of inساميtions will not only aid in erasing a zero in the short term but will also chart a path towards the ultimate goal of $0.01 in the long term.
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