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Shiba Inu has seen a 109% increase in volume in the last 24 hours as seen on CoinMarketCap. Shiba Inu's trading volume totaled $334 million, marking a 109% increase since the previous day.
The SHIB volume rise is in line with overall crypto market slide which saw $749 million in crypto liquidations according to CoinGlass.
Most cryptos including top crypto Bitcoin fell as investors considered macroeconomic concerns, reversing gains from last Friday's surge. Bitcoin fell, extending its drop near $111,000 amid massive Bitcoin whale sale.
Other major cryptocurrencies including Shiba Inu fell, currently down 3.85% in the last 24 hours to $0.00001244. Shiba Inu has reversed weekly gains, down 0.88% in the last seven days. Shiba Inu is entering its third day of drop since August 22 surge, reaching an intraday low of $0.00001235 earlier on Monday.
SHIB recent news
Going into the weekend, Shiba Inu developer Kaal Dhairya issued a recent update on LEASH migration and development.
Migration to LEASH v2 according to the SHIB team would be fair through burn to claim, and an external auditor has already been contacted in this regard. Exchanges are also in negotiations to support the swap, with a public testnet and bug bounty planned before launch.
Shiba Inu is set to form a major moving average crossover on its daily chart as the daily SMA 50 and 200 have converged with a crossover likely in the days ahead.
Traders would continue to watch the nature of the crossover if it is a golden cross or death cross to determine Shiba Inu's next market move.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team