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Shiba Inu (SHIB) is on a bullish edge as it is maintaining another uptrend for this week. Over the past 24 hours, Shiba Inu's price has jumped by $0.00001937, up by 3.54%. The token has solidified its push with its performance in recent times, a trend that has seen its price soar as high as 16.62% in the past week.
Shiba Inu bullish trend
Shiba Inu is a success story as an altcoin and as a meme coin. With the latest rally, the token has extended its market capitalization to once again surpass that of Avalanche (AVAX). While Shiba Inu's market valuation sits at $11.43 billion, that of Avalanche comes in at $11.33 billion.
While Avalanche is as a way to vet the growth of Shiba Inu, the major pursuit for the token is more lofty. First, it plans to breach the resistance level set at $0.00002. If achieved, it would imply that SHIB is breaking one of its longest negative stretches thus far this year.
Though it took several months to breach the $0.00001 price mark, current metrics are indicative of momentous growth ahead. One crucial way to prove this is the 24-hour trading volume.
This metric has continued to shrink its losses by over 2.6 billion SHIB traded in 24 hours. This is evidenced by highly bullish sentiment in the Shiba Inu ecosystem.
How high can SHIB rise?
Shiba Inu is currently displaying intriguing growth trends, one that tends to push its price beyond the immediate target of $0.00002 but as high as $0.000025 by the end of this month.
If the rally is sustained, whale accounts continue their massive buying and other ecosystem fundamentals are kept intact, it might boost the token’s growth ambitions in the long term.
Dan Burgin
U.Today Editorial Team
