Shiba Inu (SHIB) Prints 30% Volume Surge as Price Set to Remove Zero

Shiba Inu is finally restoring hopes to investors after seeing a sharp shift in market sentiment.

On Tuesday, October 21st, Shiba Inu recorded a massive spike in its trading volume over the last 24 hours as activity on the broad cryptocurrency market picks up.

SHIB jumps 30% after switching zeroes

Amid the positive crypto market trend, Shiba Inu’s trading volume has jumped by 30% to $197.4 million over the last 24 hours, according to data shared by CoinMarketCap.

The surge in the Shiba Inu on-chain metric suggests growing investor interest and strong market activity as the memecoin market begins to build fresh momentum.

The rising trading volume has stirred an upward move for SHIB’s price after multiple days of trading in deep red territory. Since the massive October 10 price crash, SHIB has continued to witness severe market correction, which sparked fear among investors about the possibility of the leading meme asset adding another zero.

However, the SHIB market is finally back to the green side, recording notable daily gains. Over the last day, Shiba Inu has moved from a low of $0.000009876 to an intraday high of $0.00001055.

SHIB flashes bullish signal

This means that the meme token has experienced high price volatility, which sent its price to add another zero while also eliminating it in later hours of the day.

The data further shows that Shiba Inu is trading at $0.00001036 as of writing time, marking a decent surge of 2.13% in its price over the last day.

Following the notable price rebound, market watchers have predicted that SHIB may be entering a bullish cycle. While it has seen its large transaction volume also mimic the positive trend, it appears that whales are playing a central role in driving the SHIB rally.