Shiba

Shiba Inu

<ul>
 <li>Shiba Inu (SHIB) surges to $0.000009917 rage.&nbsp;</li>
 <li>SHIB’s bullish signal is underscored by a notable surge in active addresses.</li>
</ul>
The global cryptocurrency market displays a surge in activity as Bitcoin’s rally above $52,500 sparks renewed investor interest, particularly in Shiba Inu (SHIB), the second largest memecoin, which has been muted since its <a href="https://thenewscrypto.com/ryoshi-network-vs-shibarium-network-which-l2-blockchain-is-better/" target="_blank" rel="noopener noreferrer nofollow">layer 2 blockchain</a>, Shibarium launch. Recent data reveals a notable uptick in new and active addresses for SHIB, indicating growing enthusiasm among investors.
Over the past week, there has been a 5% increase in newly registered Shiba Inu wallets, along with a 29% surge in active addresses. Additionally, addresses holding zero SHIB balance have surged by 80% during the same period.
Further, whale activity in the Shiba Inu ecosystem has also intensified, as reflected in a substantial increase in netflows of large holders, up by over 1700% according to <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" target="_blank" rel="noopener noreferrer nofollow">IntoTheBlock</a> data. This surge in netflows suggests significant accumulation by major players, possibly signaling bullish sentiment.
However, despite the heightened activity and interest, a significant portion of SHIB investors find themselves at a loss, with 62.49% of holders experiencing losses compared to 34.31% enjoying profits. Moreover, the Shiba Inu burn rate has seen a decline of over 38.34% in the last 24 hours. That adding another layer to the evolving dynamics within the SHIB ecosystem.&nbsp;
<h3 class="wp-block-heading" id="h-will-shiba-inu-shib-pump-to-new-high">Will Shiba Inu (SHIB) Pump to New High?</h3>
In terms of price action, Shiba Inu has displayed a downtrend since its peak of $0.000011 on December 17. Nevertheless, recent trends show a <a href="https://thenewscrypto.com/shiba-inu-shib-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">potential uptrend</a>, with SHIB’s current price at $0.000009917.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="518" src="https://thenewscrypto.com/wp-content/uploads/2024/02/image-63-1024x518.png" alt="" class="wp-image-91652" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/image-63-1024x518.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-63-300x152.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-63-768x388.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-63.png 1305w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Shiba Inu (SHIB) Price Chart (Source: <a href="https://in.tradingview.com/symbols/SHIBUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
If the <a href="https://thenewscrypto.com/top-10-memecoins-to-invest-in-2024/" target="_blank" rel="noopener noreferrer nofollow">memecoin</a> continues its bullish trend, analysts suggest immediate resistance at $0.00001012. That could lead to further gains toward $0.00001608. A breach above $0.00002308 could set a new bullish trajectory towards $0.00003408potentially propelling SHIB to $0.000057 and $0.0001.
Conversely, failure to sustain the rally may see SHIB finding crucial support at $0.000009504, potentially triggering a decline towards $0.000009203 and possibly even $0.00008564.
At the time of writing, SHIB was trading at $0.00000981 with a daily trading volume of $201 million, marking an increase of over 47% in the last 24 hours.

Shiba Inu Whales on the Move. Will SHIB Pump to $0.0001?

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