Shiba Inu trading volume skyrockets 1,711% on Coinbase
Shiba Inu’s overall trading volume skyrocketed to $482 million
Shiba Inu (SHIB) has seen a massive surge in trading volume on Coinbase, with the token’s spot trading volume increasing by a staggering 1,711%.
SHIB/USD on Coinbase reached $13.12 million in trading volume over a 24-hour period, marking an impressive spike amid growing interest in the Shiba Inu ecosystem.
Key takeaways
- Trading volume surge: SHIB’s trading volume surged 1,711%, signaling a sharp uptick in interest.
- Price stability: Despite the spike in volume, SHIB’s price has remained relatively steady, consolidating near the $0.000024 mark.
- Upcoming token launch: The Shiba Inu community is preparing for the TREAT token release, fueling anticipation for further demand.
Shiba Inu’s record volume and market sentiment
In the past 24 hours, Shiba Inu’s overall trading volume skyrocketed to $482 million, driven by heightened activity on Coinbase. This surge signals renewed interest in the token as the Shiba Inu community gears up for significant developments in 2025, notably the launch of the TREAT token on January 14.
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These events are expected to boost demand for SHIB, although price movements have remained largely unaffected so far.
Despite the spike in trading volume, SHIB's price has shown resilience, consolidating near $0.00002377.
SHIB/USD price dynamics. Source: Сoingecko
Analysts suggest that sustained high volumes could lead to price momentum, particularly if the broader cryptocurrency market strengthens. However, SHIB needs to break through resistance levels to initiate a bullish trend.
Key resistance levels include the daily simple moving average (SMA) at $0.0000255, followed by $0.00003. Should SHIB manage to overcome these barriers, it could see further upward momentum.
Conclusion
The recent surge in Shiba Inu’s trading volume highlights growing interest in the token, fueled by the upcoming TREAT token release and the overall expansion of the Shiba Inu ecosystem.
If SHIB can break through key resistance levels, it may set the stage for further price appreciation. However, until those levels are breached, the token is likely to remain in a tight trading range.
We also informed about Bitcoin price surges 10% in January above 100k backed by ETF inflow.
