Shibarium's Daily Trading Volume Plummets to Just $21K, Lagging Behind Base and Polygon.

Despite the sluggishness, SHIB price holds strong at $0.00001196, showing signs of a potential breakout.

Shibarium, the Layer-2 network built by Shiba Inu developers, is seeing extremely low levels of trading activity despite high user numbers and transactions.

According to the latest data fromcoingecko, the SHIB price is showing signs of a potential breakout.

Shibarium’s Daily Trading Volume Drops to Just $21K

Shibarium is heating up with over 1.04 billion transactions and nearly 200 million wallet addresses on the mainnet. But despite the activity, Shibarium is struggling to gain momentum.

Its total daily trading volume across all decentralized exchanges (DEXs) stands at just $21,000, according to DexScreener. To put that in perspective, Base is currently reporting $742 million in daily trading volume, while Polygon has $68.8 million.

Among Shibarium’s DEXs, WoofSwap is taking the lead with a daily volume of $9,500. ShibaSwap follows with $5,700. Other platforms like ChewySwap and MarSwap are barely crossing the $2,000 mark, and some report less than $10 in daily trades.

SHIB Price Analysis: Breakout Key at $0.0000122

Now, let's move on to the SHIB price analysis. Despite Shibarium’s sluggish trading volume, the Shiba Inu price is showing some strong resistance.

Shib is currently trading at around $0.00001196, indicating a slight rise in the past 24 hours. Some crypto experts suggest that the token is forming a falling wedge breakout on the 1-day chart, which could signal a potential bullish move for the token.

The price is aiming to break the 100-day moving average, with RSI at 57.

Shib is currently testing a key resistance level at $0.0000122. If it breaks above this level with strong volume, the price could rise quickly to the next resistance level at $0.0000165.

On the other hand, if SHIB fails to break through, it could drop back to the support level at $0.0000165. A move below this level could take the price to the next critical support zone, ranging from $0.000010 to $0.000011.

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