Shiba Inu Coin bulls strengthen, SHIB targets $0.000025, with excess demand for $3M behind it

柴犬幣多頭增強,SHIB 瞄準 $0.000025,背後有 $3M 的超額需求
Shiba Inu Coin bulls strengthen, SHIB targets $0.000025, with excess demand for $3M behind it

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Shiba Inu Coin bulls strengthen, SHIB target $0.000025, demand exceeds $3 million
Shiba Inu Coin bulls strengthen, SHIB target $0.000025, demand exceeds $3 million
January 17, 2025


Shiba Inu Coin

In the past 24 hours, Shiba Inu Coin has seen a significant increase in attention, with bulls gaining the upper hand.
After about a month of market uncertainty, crypto assets appear to have found their footing again as anticipation grows for President-elect Donald Trump’s inauguration.
One of the assets that has received notable attention from traders during this rally is the dog-themed cryptocurrency Shiba Inucoin (SHIB). Recent data shows that the coin has received considerable attention and bulls appear to have the upper hand, approaching a key level.
Shiba Inucoin (SHIB) Bulls Show Dominance
According to IntoTheBlock’s long and short volume indicator, Shiba Inu Coin (SHIB) has received significant attention over the past 24 hours, with bulls having the upper hand.
The Long and Short Volume indicator tracks the volume traded by addresses with more than 1% transactions on the day, with longs being buyers and shorts being sellers.


SHIB long and short volume chart source: IntoTheBlock
According to the data, these market participants traded a staggering 13.04 trillion SHIB on Thursday, January 16, which was worth $313 million at the time. However, the bulls outnumbered the bears with 14.024 billion SHIB worth $3.4 million.
Interestingly, the trend appears to have been growing since January 10, in line with the coin’s rise of 14% from a price level of $0.000021 to approximately $0.000024 over the past seven days.
This movement is in contrast to the last time the coin experienced such a level of attention between December 11 and December 16, when the coin fell 7% from around $0.000029 to a low of nearly $0.000027 amid uncertain market conditions.
Amid the recent rally and attention, SHIB currently appears to be preparing to challenge the key resistance level of $0.000025. Market analyst “CryptoRoy” claimed on Thursday that a break above this level would take the coin back towards its recent highs of $0.000033.

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