Shiba Inu Enters Top 10 Once Again Amid Epic 20% Surge

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As a seasoned researcher with a knack for cryptocurrencies and a soft spot for dogs, I find myself both intrigued and amused by the latest surge of Shiba Inu (SHIB). Having closely watched this digital pup since its inception, it’s fascinating to see it storm back into the top 10 cryptos by market cap.

The canine-inspired digital currency known as Shiba Inu (SHIB) has made a comeback, reappearing among the top 10 cryptocurrencies based on market value, thanks to a significant 20% increase over the past day.

Shiba Inu has broken past its November peak at $0.00003, suggesting a powerful surge and strengthening bullish trends. The impressive rise of Shiba Inu has once again placed it among the top 10 cryptocurrencies in terms of market capitalization. Currently, with a market value of approximately $18.9 billion, Shiba Inu now ranks as the tenth largest cryptocurrency by market cap, pushing Avalanche and Tron down to the 11th and 12th positions, respectively.

Currently, Shiba Inu is being traded at approximately $0.00003228, marking a 19.98% increase over the past 24 hours. Earlier today, Shiba Inu reached a peak of $0.00003243, significantly higher than its lowest point of $0.0000266. This sharp rise in price is evident on the daily charts through a large green candlestick, suggesting strong buying activity.

Significantly, Shiba Inu has been rising consistently since November 29 and is poised for its third consecutive day of gains. This surge exceeded the important $0.00003 barrier, which is significant because the previous Shiba Inu rally in November did not manage to surpass this level. The current breakthrough is worth noting, as there’s a high possibility of further price escalation from hereon.

What’s next for Shiba Inu price?

With Shiba Inu (SHIB) currently trading above $0.00003, investors are keeping an eager watch as the coin approaches its next potential resistance level at around $0.000035. If SHIB manages to successfully breach and sustain this level, it could signal further growth, possibly propelling SHIB towards new highs seen in the year. This bullish movement might even push the price up to $0.000039.

Shiba Inu Enters Top 10 Once Again Amid Epic 20% Surge

On the other hand, if investors choose to cash in their profits, it may cause short-term price swings. In such a situation, optimistic traders (bulls) might try to make the current level of $0.00003 a support point. If they’re unsuccessful in this attempt, Shiba Inu could revert back to its previous range between $0.0000225 and $0.0000281.

If SHIB drops below the $0.0000225 support point, it could potentially fall to $0.000020. This area is anticipated as a potential entry point for buyers.

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2024-12-01 18:38