Shiba Inu (SHIB) has posted a 4.47% gain over the past week, pushing its price to $0.00001258. Despite some volatility, SHIB managed to maintain an upward trajectory. Market sentiment remains mixed, but signs of accumulation suggest growing interest among investors.
SHIB’s Price Action
Over the past seven days, SHIB fluctuated between $0.00001207 and $0.0000135, experiencing sharp movements. The most notable surge came on March 17, when the price spiked before facing resistance.Â
7-day price chart. Source: CoinMarketCap
SHIB retraced slightly but managed to hold above $0.0000125. The market cap currently stands at $7.41 billion, reflecting a marginal 0.31% decline. However, 24-hour trading volume dropped by 36.22% to $129.83 million, indicating lower short-term activity.
Comparing SHIB’s Highs and Lows
SHIB remains far from its all-time high of $0.00008845, set on October 28, 2021. However, compared to its all-time low of $0.00000000008165, recorded in September 2020, it has skyrocketed by over 15,408,435%.
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In the past 24 hours, SHIB has traded between $0.00001228 and $0.00001272. These small movements suggest consolidation, a potential setup for the next big move.
Will SHIB Continue to Rise?
SHIB’s steady increase signals bullish momentum, but resistance levels could slow further gains. The declining trading volume hints at weakening buying pressure.
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If demand picks up, SHIB could test $0.000013 again, but failure to hold support near $0.0000125 might lead to a dip. Shiba Inu has delivered a solid weekly performance, showing resilience despite a volume drop.
The next few days will be crucial in determining whether SHIB can sustain its momentum. Investors are watching closely for signs of another breakout or potential correction.
