In the past 24 hours, Shiba Inu (SHIB) has seen a modest but promising rally, climbing 1.32% to trade at $0.00001224. This uptick, though relatively small, signals renewed bullish sentiment after a volatile day that saw prices dip to a low of $0.00001192 before recovering and briefly touching $0.00001227. The price action shows buyers stepping back in after early-session weakness, keeping SHIB comfortably above the psychological $0.000012 mark.
Volume Declines but Price Holds Firm
Despite the positive price movement, 24-hour trading volume fell sharply by 24.62%, totaling $257.7 million. This drop in volume may indicate less speculative activity but also suggests that sellers are losing strength. The current market cap stands at $7.21 billion, reflecting SHIB’s steady grip as one of the top meme coins in the market.
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The day’s trading activity showed mixed momentum with periods of selling pressure pulling SHIB below $0.00001210, followed by a strong late recovery that pushed the price back above support. The volume-to-market-cap ratio sits at 3.58%, showing moderate liquidity. The circulating supply remains high at 589.24 trillion SHIB, keeping the token’s price sensitive to small swings in buying pressure.
Technical Perspective and Key Levels
From a technical standpoint, the ability to hold above $0.000012 is a positive sign. If bulls can sustain this level, SHIB could aim for a near-term target around $0.00001240.
24-hour price chart Source: CoinMarketCap
However, a drop below $0.00001190 could open the door for another test of the $0.00001180 region. For long-term holders, SHIB is still down 86% from its all-time high of $0.00008845 but remains up an eye-popping 14,976,975% from its all-time low, reminding investors of its explosive history.
Outlook: Quiet Accumulation or Big Move Incoming?
Overall, Shiba Inu’s latest price action reflects cautious optimism. The combination of lower volume and higher prices often signals quiet accumulation by stronger hands.
If this momentum continues, SHIB could be preparing for a breakout in the coming sessions. Traders will be watching closely to see if the coin can maintain its upward momentum and build towards a more decisive rally.
