The post 3.4 Trillion Shiba Inu (SHIB) in 24 Hours: Is Comeback Finally Here? appeared on BitcoinEthereumNews.com.

The number of transactions on Shiba Inu has recently increased significantly, hitting an incredible 3.4 trillion SHIB in a single day. This abrupt spike in on-chain activity has sparked conjecture regarding the well-known meme coin’s possible resurgence. But the question still stands: is this a temporary increase in activity or an indication of a recovery? On-chain data indicates that SHIB’s transaction volume averages 2.73 trillion SHIB over a seven-day period, peaking at 4.19 trillion SHIB on March 16, 2025. It appears from this surge in activity that investors are using the asset actively. Such volume increases have historically come before significant price movements, though it is unclear which way they will go. Despite the impressive volume surge, SHIB’s price has had difficulty breaking through important resistance levels.  SHIB/USDT Chart by TradingView SHIB is currently positioned between $0.0000125 and $0.0000127, with resistance close to $0.0000140. The price has not shown much bullish momentum, and the asset has been moving in a narrow range even with the volume increase. A decline below $0.0000120 could lead to additional downward movement if SHIB is unable to hold this level.  Related SHIB may encounter fresh buying pressure and be pushed toward the next resistance level at $0.0000150 if the increased transaction volume is the result of accumulation from large holders. However, the price might stay the same or even drop if the volume spike is a consequence of short-term speculative trading.  Whether this volume spike results in a long-lasting rally or if SHIB stays trapped in a consolidation phase will be determined in the days ahead. Before taking any action, investors should monitor support levels and the general mood of the market. Source: https://u.today/34-trillion-shiba-inu-shib-in-24-hours-is-comeback-finally-here

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Filed under: News - @ March 21, 2025 5:25 pm