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An impressive volume of Shiba Inu (SHIB) tokens has been registered on the largest cryptocurrency exchange, Binance, in the past 24 hours. This development occurred at a time when the second largest meme coin on the market recorded a slight increase in price.
Increased trading activity raises optimism
Total 379,270,000,000 SHIB I gushed Through Binance in increasing trade between investors in the ecosystem. The trading frenzy on Binance could have been caused by the more than 5% rise in SHIB's price performance.
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As of this writing, SHIB is trading for $0.0000244, an increase of 5.13% over the past 24 hours. Cumulative trading volume increased by 58.06% to reach $761.8 million. Overall, SHIB price maintained a range between the low of $0.00002319 and the high of $0.00002486.
Although the performance is still below the previous price levels of $0.00003215 about a month ago, analysts see this as an impressive recovery. To a large extent, he defied SHIB Death cross pattern It seems that it will reinforce the continuing price rise.
With SHIB approaching the $0.000025 mark, a key resistance level, experts believe that if the meme coin breaks this level, it could achieve further upward momentum. They believe that increased trading activity, such as that seen on the Binance exchange, could lead to a sustainable recovery for SHIB.
SHIB's key price levels and market forecasts
Interestingly, some analysts consider the $0.00002 price point a psychological one for SHIB.
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Some believe that this may become the new thing SHIB Minimum Price In 2025 if it can maintain its growth performance. SHIB's ability to stay above this price point should give those who are betting long on the asset more confidence to hold on to it.
Investors should also hope that Daily burn The mechanism remains active and the price is important to maintain price stability. In addition, the anticipation built by Chitoshi Kusama, the leader of the Shiba Inu, could add to the positive outlook of the ecosystem and sustain the price.
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