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In a festive touch, a dog-themed cryptocurrency Shiba Inu (SHIB) Saw a 7% rise in prices in the last 24 hours. The cryptocurrency market saw a boost ahead of the Christmas holidays.
Bitcoin rebounded to $99,000, with its price approaching six figures again. This general market optimism has extended to the Shiba Inu, helping to push up its price.
Positive developments in the Shiba Inu ecosystem may also have helped boost investor sentiment.
In positive news, Shiba Inu has announced early access to SHIB: The Metaverse.
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In response to this important event, he led the Shiba Inu Chitoshi Kusama He praised the SHIB team's efforts, saying, "Exactly. I can't take credit for this. Many, many amazing people have worked together to make this possible," while teasing more surprises — "and we still have surprises in store. This is just the first of many things to come." almost."
The Shiba Inu's second layer solution, Shibarium, also reached a historic milestone, with total transactions exceeding 702 million.
What's next for Shiba Inu price
At the time of writing, the Shiba Inu is trading at $0.000023, up 3.35% over the past 24 hours, after paring some of its gains during the day. After two days of rising, the Shiba Inu touched highs at $0.00002406 in today's trading session. Shiba Inu trading volume over the past 24 hours rose by almost 28% to $758.17 million.
Shiba InuThe Shiba Inu's recent rally led to a retest of the $0.000024 level, where its rally was paused on December 21st. The Shiba Inu price falling slightly at this level in today's trading session indicates that the Shiba Inu may have confirmed short-term resistance at this key level. level.
To extend the current recovery, SHIB price must overcome this barrier as well as the daily 50 simple moving average at $0.00002577. On the other hand, support is expected to be at the daily 200 simple moving average at $0.0000187, where the Shiba Inu confirmed support in November and December as well.
Broader market conditions may play an important role in SHIB's price trajectory. If Bitcoin and other major cryptocurrencies continue their upward momentum, this could provide a tailwind for SHIB.
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