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TronWeekly

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Shiba Inu Holds $0.00001000 Support, Signals Early Bullish Reversal

  • Shiba Inu (SHIB) bounced from the $0.00001000 support and gained over 4% in the last 24 hours.
  • Trading volume surged to 1.6 trillion SHIB, indicating renewed buying interest.
  • Circulating supply continues to decrease, supporting long-term bullish pressure.
  • SHIB price targets resistance levels at $0.00001150 and $0.00001300, signaling a potential trend reversal.
  • The token is showing early signs of a rebound, with bullish sentiment returning to the market.
  • Despite a slowdown in burn rate, the circulating supply is shrinking, boosting long-term bullish sentiment.
  • The total supply of SHIB is at 589.2 trillion, with a market cap of $6.36 billion.
  • Price metrics show hourly and daily gains of 0.12% and 0.14% respectively.
  • SHIB is approaching resistance levels, and a breakout could confirm a trend reversal.
  • The technical bounce, increasing volume, and ongoing supply reduction paint a positive outlook for SHIB.

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