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Broader crypto ecosystem maintains bullish outlook after Bitcoin (BTC) price sautéed above the $102,000 mark, to the benefit of Shiba Inu (SHIB). At the time of writing, Shiba Inu has extended its daily growth rate to 7.2%, with the price attached at $0.0000241. Beyond price, several key SHIB indicators have also turned bullish amid 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 remarkably. As of this writing, trading volume is up 39.28%, with a total of $729,378,145.65 mixed in by market traders.
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Shiba Inu trading volume on major exchanges like Binance and Upbit has also skyrocketed, demonstrating the token’s widespread appeal.
Open interest in Shiba Inu also jumped 12.67% in the last 24 hours. Current market data from CoinGlass shows that SHIB open interest has seen 22.66 trillion tokens committed by traders in the futures market.
As an ecosystem, Shiba Inu is at the forefront of rolling out new projects, products, and community-centered initiatives that build ecosystem hype.
SHIB Price Projection
Unlike XRP, which has recorded an epic escapeShiba Inu is still lagging behind in its growth during this bull cycle.
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Despite reversing the psychologically important resistance level at $0.000023, SHIB is still down 74% from its all-time high (ATH) of $0.00008845. With the current hype about the ecosystem, confidence in SHIB’s ability to close this ATH loss gap remains high.
However, maintaining the price of $0.000024 as a support zone amid intense volatility will determine the next moves. As a major source of demand, SHIB Whales are active during this period and could help strengthen the resilience of the token in the short term.