Shiba Inu (SHIB) has staged a mild recovery in the past 24 hours, climbing 1.4% to trade around $0.00001057. Despite a largely sideways trend earlier in the day, the token managed to regain strength as trading activity spiked, hinting at renewed investor confidence across the meme coin market.
Rising Trading Volume and Market Position
The most notable change came from SHIB’s trading volume, which rose 47.35% in the last 24 hours to $183.0 million. This surge in volume signals heightened buying and selling activity, suggesting that traders are positioning for short-term price movements. Shiba Inu’s market capitalization also ticked upward to $6.23 billion, keeping the token firmly within the top 25 cryptocurrencies by market value.
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At press time, SHIB’s 24-hour price range sat between $0.00001036 (low) and $0.00001069 (high), reflecting mild volatility typical of meme-based assets. The fully diluted valuation (FDV) remained steady at $6.23 billion, while the circulating supply hovered near 589.24 trillion SHIB.
24-hour price chart Source: CoinMarketCap
While the daily uptick brings relief to holders, SHIB remains far below its all-time high of $0.00008845, recorded on October 28, 2021—a staggering 88.07% decline from that peak. However, the token continues to boast an astronomical return from its all-time low of $0.00000000008165, marked on September 1, 2020, representing a gain of over 12,927,458% since inception.
Market Outlook
The broader crypto market has shown mild optimism this week, and Shiba Inu’s rise could be part of a larger rebound driven by increased retail engagement. The token’s 2.92% volume-to-market cap ratio reflects growing interest, though traders remain cautious as price fluctuations persist.
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If volume momentum holds, SHIB could test the upper band of its short-term resistance around $0.0000107. However, failure to maintain current buying pressure might see the token revisit the $0.0000104 zone in the short term.
