- Market cap holds strong at $11.39 billion, showing SHIB’s staying power.
- Trading volume surges past $254 million in 24 hours, signaling increased activity.
- Price moves between $0.00001852 and $0.00001948, hinting at potential breakout.
Shiba Inu (SHIB) continues to prove it’s not just another meme coin riding the hype train. With a market cap of $11.39 billion, it firmly holds its position in the top 20 cryptocurrencies. Unlike some of its meme-coin competitors that faded into irrelevance, SHIB has managed to keep a loyal investor base. The fact that its fully diluted valuation sits just slightly higher at $11.4 billion tells us that most of its circulating supply is already in the market, reducing the risk of sudden large token releases that could tank its price.
High Trading Volume: A Sign of Life or Just Noise?
The past 24 hours saw over $254 million in trading volume, meaning SHIB isn’t just sitting in people’s wallets collecting dust—there’s still serious movement. When you see this kind of volume, it usually means one of two things: either buyers are stepping in, preparing for a potential move up, or sellers are looking to cash out before a dip. Right now, SHIB is showing signs of healthy market interest, which is often a precursor to volatility. But the real question is, which direction will it go?
Consolidation or the Calm Before a Storm?
Looking at the recent price range on CoinGecko, SHIB bounced between $0.00001852 and $0.00001948, a relatively tight spread that suggests the market is in a bit of a holding pattern. This kind of price action is common before a breakout—whether that’s up or down depends on what happens next. If SHIB can break past $0.00001950, we might see a stronger rally toward the next resistance. But if it loses support at $0.00001850, a short-term dip could be on the horizon.
Where Does SHIB Go From Here?
Shiba Inu has survived multiple market cycles, proving it’s more than just a joke coin. But as always with meme coins, momentum is everything. If Bitcoin and Ethereum continue their upward trends, SHIB could ride that wave. However, if the broader market cools off, SHIB might see a slowdown as well.
One thing’s for sure: with a market cap this big and trading volume staying high, SHIB isn’t fading into the background anytime soon. Whether it’s gearing up for another rally or facing a short-term cooldown, traders should keep a close eye on its next move.
