What happened?
Shiba Inu (SHIB) has demonstrated resilience during recent market downturns by experiencing smaller losses compared to other tokens. In the past 30 days, SHIB decreased by only 11.6%, significantly less than Bonk’s 41% and Pudgy Penguins’ 29% drops. Moreover, SHIB’s trading volume increased by 118% in just one day, indicating renewed interest and activity.
Who does this affect?
This situation impacts investors and traders who are holding or considering investing in the Shiba Inu (SHIB) cryptocurrency. The rise in trading volume and the smaller decline in value may attract new investors looking for potentially profitable opportunities amidst a volatile market. Current SHIB holders could benefit from future price gains if the bullish predictions come true.
Why does this matter?
This matters because SHIB’s relative strength and potential bullish breakout could stimulate positive sentiment in the crypto market, offering investors substantial upside opportunities. If the bullish prediction of a 152% increase materializes, SHIB could see significant price appreciation, providing lucrative returns to investors. Such developments might also influence the broader meme coin market, driving increased trading activity and investments.