Are you keeping a close eye on the Shiba Inu price and trading volume trends? If not, you might be missing out on some crucial information that could impact your investment decisions. At Extreme Investor Network, we believe in providing our readers with unique insights and analysis that can help them navigate the ever-changing landscape of the stock market.
Recently, Shiba Inu’s trading volume experienced a significant surge, jumping by approximately 420% in just 48 hours, reaching a monthly peak of $145 million on Oct. 29. Even with a subsequent 7% price decline, SHIB trading volume remained strong at over $138 million on Oct. 30, indicating sustained interest from market participants.
When trading volume remains high during a price correction, it can be seen as a bullish signal for strategic investors. This could suggest that buyers are actively accumulating at lower price levels, showing continued demand even when prices dip. Additionally, sustained volume can reflect investor confidence in the asset’s future price potential, as positions remain active despite volatility.
The surge in Shiba Inu’s trading volume amid price retracement points to a resilient bullish sentiment within the market, potentially driven by speculations surrounding a possible Trump-related rally in the meme coin sector. As we continue to monitor these trends, our SHIB price forecast remains optimistic, with a target of $0.000020 still seen as viable.
Positive speculations around a potential Donald Trump victory could further boost demand for memecoins, potentially leading to another SHIB rally as the elections draw nearer. Technical indicators on the daily chart for SHIBUSD also support this optimistic outlook, with the Keltner Channels (KC) bands indicating that SHIB is currently above the middle band at $0.000017.
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