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Cryptocurrency News Articles
Shiba Inu (SHIB) Surges 203% in Trading Volume, Nears Critical Resistance Level
Sep 27, 2024 at 07:16 am
Shiba Inu (SHIB) has surged with a 203% jump in trading volume, fueling a price increase that brings the token near a critical resistance level.
Shiba Inu (SHIB) encountered a 203% surge in trading volume on Thursday, boosting demand and driving up the token's price significantly. This surge follows a period of consolidation, attracting the attention of traders once again.
According to data from CoinMarketCap, SHIB's trading volume surged by an impressive 203% as the token's price experienced a substantial breakout. This increase in trading activity has not gone unnoticed by traders and market observers.
Shiba Inu's trading volume reached $665,513,196, or 38.95 trillion SHIB, a 203% surge, in the last 24 hours.
Meanwhile, the price of Shiba Inu rose at a rate of 13.69% over the same period, continuing an upward trend that began two days ago.
The breakout triggered a surge in buying pressure, which in turn drove up demand on major exchanges, leading to a substantial increase in the price of SHIB. This token, which ranks 14th by market capitalization, experienced a relative period of calm in recent days, but now seems to be attracting attention once again.
Out of the top 100 cryptocurrencies, Shiba Inu outperformed all of them in terms of daily gains, except for Worldcoin (WLD), which saw a 15.21% increase. The majority of these cryptocurrencies saw gains ranging from 1% to 13%.
Anticipation of upcoming developments within the Shiba Inu ecosystem, a technical breakout, and overall bullish sentiment in the cryptocurrency market may be contributing to the price increase, U.Today reports.
Following the Federal Reserve's announcement of a rate cut last week,
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- OpenAI CTO Mira Murati Resigns After Nearly Six and a Half Years With the Company
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- Dogecoin (DOGE) Breaks Through Major Resistance, Could Surge to $0.150 as Whales Influence Grows
- Sep 27, 2024 at 10:20 am
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- Chainlink (LINK), Ripple (XRP), and IntelMarkets (INTL) Are the Best Cryptos to Buy Now, Analysts Forecast
- Sep 27, 2024 at 10:20 am
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- Qubetics ($TICS) Unites Bitcoin, Ethereum, and Solana to Redefine Blockchain Innovation
- Sep 27, 2024 at 10:15 am
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- Aptos (APT) Bulls Aim to Convert June Consolidation Into an Uptrend After Weekly Structure Break
- Sep 27, 2024 at 10:15 am
- Aptos [APT] was bullishly poised on the higher timeframes after beating a key local resistance at $7.66. The $5.6 support was defended valiantly
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- Cardano (ADA) Price Poised to Break Out As On-Chain Metrics Signal a Potential Altseason
- Sep 27, 2024 at 10:15 am
- After last week's interest rate cut, optimism has surged among analysts and investors, with many anticipating strong upward momentum for the altcoin.