Before the latest market rally, Shiba Inu trading volume fell to a low of $27.84 million on October 27. However, the chart above shows a significant reversal, which saw SHIB’s trading volume increase by approximately 420% in 48 hours, from $27.84 million to $27.84 million. a monthly high of $145 million on October 29.
Even with the subsequent 7% price decline, SHIB trading volume remained strong at over $138 million on October 30, reflecting continued interest from market participants.
When trading volume remains high during a price correction, as observed here, strategic investors may interpret it as a bullish signal for two main reasons.
First, high trading volume during a pullback suggests that buyers are stepping in to accumulate at lower levels, indicating continued demand even as prices fall.
Second, sustained volume may reflect confidence in the asset’s future price potential, as investors maintain their active positions despite downward volatility.
This increase in Shiba Inu trading volume amid a price retracement indicates resilient bullish sentiment within the market, potentially driven by speculation surrounding a potential Trump-related rally in the coin sector.
SHIB Price Prediction: $0.000020 Target Remains Viable
As Shiba Inu trading volume continues to soar, all eyes are on the bull’s next attempt to breach the $0.000020 price resistance level. Positive speculation around a Donald Trump victory could further fuel demand for memecoins, increasing the potential for another SHIB rally as the election approaches.
The daily chart of SHIBUSD supports this optimistic outlook, with two technical indicators showing bullish signs. The Keltner Channels (KC) bands, shown in the chart below, indicate that SHIB is currently above the mid-band of $0.000017.