Shiba Inu (SHIB) Has Been Slow in Its Movement for Months—Until It Wasn't

Shiba Inu (SHIB) has been a slow burner for months, but recent trading activity suggests that something might be brewing.

In just ten days, SHIB saw over $45 billion in trading volume, a staggering figure even by its own volatile standards. To put this in perspective, BTC’s daily volume hovers around $15 billion, while Ethereum’s is about $10 billion.

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As the universe conspires in our favor, may we be humble and grateful for the opportunity to serve and make a difference!

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As the saying goes, "Don't panic, buy Bitcoin!" Well, crypto enthusiasts, rejoice! Bitcoin (BTC) is holding strong, remaining above the crucial $90,000 level, and the broader meme coin space is showing signs of renewed interest.

Among the meme coins, Shiba Inu (SHIB) is often among the first to be noticed, and its price action in recent days is reflecting this attention.

After reaching highs above $0.00003 in late 2024, SHIB dropped back below $0.000015 by March 2025, with lower highs along the way. However, zooming in further, we can see signs of stabilization, with a potential base forming between $0.000012 and $0.000014.

This flattening after a prolonged drawdown could foreshadow a larger directional move. Technical traders will be watching for a decisive break above resistance at $0.0000155, ideally with strong volume to confirm the move.

A successful breakout could open the door for further gains toward the next resistance level at $0.0000175, with potential targets at the psychological handle of $0.00002.

Behind the scenes, we’re also seeing a slowdown in burn activity, with fewer SHIB tokens being destroyed daily by the official burner. This has raised concerns about long-term supply pressure on the token.

However, proponents of SHIB argue that the recent volume surge is a sign of reawakening demand for the token, which could ultimately outpace any supply-side worries.

Moreover, SHIB continues to benefit from Bitcoin's strength. With BTC currently floating near $99,000, the crypto space is in a good mood, and meme coins are usually among the first to react with price surges.

Stay tuned for more updates on Shiba Inu and other major cryptocurrencies.

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The post Shiba Inu: A Slow Burn or a Coiled Spring? appeared first on Benzinga.