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The broader cryptocurrency ecosystem maintains its bullish outlook following the Bitcoin (BTC) price. jump Above the $102,000 mark, for Shiba Inu (SHIB). At the time of writing, the Shiba Inu has expanded its daily growth rate to 7.2%, with price tied At a price of $0.0000241. In addition to price, several key SHIB metrics have also turned to the upside in pursuit of a higher valuation target.
Overview of Shiba Inu Performance Metrics
While price is a major point of optimism for the ecosystem, Shiba Inu trading volume has also jumped significantly. As of the time of writing, trading volume has increased by 39.28%, with a total of $729,378,145.65 traded by market traders.
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Shiba Inu trading volume on major exchanges such as Binance and Upbit also rose significantly, demonstrating the token's widespread appeal.
Open interest for the Shiba Inu also rose by 12.67% in the last 24 hours. Current market data from CoinGlass shows that SHIB's open interest has seen 22.66 trillion tokens committed by traders in the futures market.
As an ecosystem, the Shiba Inu is on the front lines of rolling out new community-centric projects, products and initiatives that build on the buzz of the ecosystem.
SHIB price forecast
Unlike XRP, which has... Recorded an epic breakthroughThe Shiba Inu continues to lag behind in growth trajectories during this bull cycle.
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Despite flipping the psychologically important resistance level at $0.000023, SHIB is still 74% down from its all-time high (ATH) of $0.00008845. With the current ecosystem hype, confidence that SHIB may bridge the ATH loss gap remains high.
However, maintaining the $0.000024 price mark as a support area amid extreme volatility will determine the next moves. As a main source of demand SHIB whales are active during this period and may help enhance the token's resilience in the short term.
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