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Shiba Inu (SHIB) Skyrockets 15% in Epic Market Bounce; What Happens Next
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Shiba Inu Dog (SHIB)The dog-inspired cryptocurrency has seen a significant surge in 24 hours, skyrocketing by 15% in a significant market comeback. This strong rebound has caught the attention of the cryptocurrency community, sparking curiosity about what could be next for SHIB.
After touching support at lows of $0.0000127 in Friday’s trading session, Shiba Inu has bounced strongly, reversing the previous downtrend. The bounce has held up till press time, with SHIB up 15.27% in the past 24 hours to $0.00001538.
The overall sentiment in the cryptocurrency market has suddenly improved, contributing to the positive movement of various digital assets, including SHIB. Large holders, often referred to as “whales,” have shown increased activity, triggering a 197% inflow surge for SHIB, according to In the Block data, causing their price to increase.
The Shiba Inu community remains very active and involved, consistently supporting the token. Shytoshi Kusamathe pseudonym behind the Shiba Inu project, made her first public appearance at the IVS conference in Kyoto. Photos and videos of Kusama captured by the SHIB community quickly spread across social media.
Kusama visited the Shiba Inu booth and mingled with the Shiba Inu community and other cryptocurrency enthusiasts, but did not reveal her identity. The enigmatic Shiba Inu leader wore a black haori samurai costume and a Batman-style mask. This excitement among the Shiba Inu community may also have spurred renewed interest in SHIB.
What does the future hold for the Shiba Inu?
AS Shiba Inu Dog bounces, the market is carefully watching the SHIB charts to spot key levels that could indicate the next price move.
However, for SHIB to maintain its upward trajectory, the broader cryptocurrency market must continue its positive momentum. A stable or bullish market environment will be crucial for SHIB’s sustained growth.
If SHIB price maintains the current bounce, it will face the next major hurdle between $0.000015 and $0.000019, where 433.96 trillion SHIB are held by 83,560 addresses, according to IntoTheBlock dataIf SHIB prices drop, the $0.000014 level would be considered as an intermediate support.
About the author
Tom Wabold Olajide
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and trading forecasts on estimated market trends. Tomiwabold holds a bachelor’s degree from the University of Lagos.