Dog-themed cryptocurrency Shiba Inu (SHIB) is showing impressive momentum as it kicks off 2025. Starting from lows of $0.00002 on the very first day of the year, SHIB has surged to a high of $0.00002383 during today’s trading. If this positive trend continues, SHIB will have marked three consecutive days of growth, painting a bright picture for investors.
The entire cryptocurrency market has been on an upswing, with many digital currencies experiencing notable gains. Investors seem to be piling into cryptocurrencies as the new year unfolds, and with altcoins typically exhibiting more volatility than Bitcoin, the potential for higher profits—or losses—becomes an attractive prospect. This thrilling volatility could explain SHIB’s current trajectory.
Alongside this, the historical performance of digital assets tends to be robust during the first quarter, further feeding into the optimism surrounding the crypto market. As of now, SHIB is trading up 4.44% in the last 24 hours at $0.00002363, and it’s also up 10% weekly. With trading volume exceeding $500 million in just 24 hours, the enthusiasm surrounding Shiba Inu is palpable.
102 trillion SHIB in play—what lies ahead?
The upward shift has positioned SHIB at a critical level where over 102 trillion SHIB are presently held by various addresses. According to data from IntoTheBlock, a staggering 102.57 trillion SHIB were acquired within the price range of $0.000022 to $0.000024, with an average purchase price of $0.000023 across 80,900 addresses.
Currently, SHIB is situated at the lower edge of this crucial range. At $0.0000236, it faces some resistance until it reaches $0.000024, where there are an additional 39 billion SHIB held as support. The next significant resistance is between $0.000024 and $0.00003, where 70 trillion SHIB are stored across 207,630 addresses.
In the event of a price drop, SHIB has immediate support lined up between $0.000019 and $0.000022. Here, about 28.77 trillion SHIB are held by 47,250 Shiba Inu addresses, ready to cushion any potential falls.
Ultimately, investors are eager to see whether SHIB will break through the resistance and reach new heights. As the market sentiment remains buoyant, many are left wondering: will Shiba Inu rise higher? Only time will tell, but the excitement surrounding this cryptocurrency is certainly captivating.
