YouTube crypto analyst ‘ClayBro‘ shared his insights about Shiba Inu’s market indicators this morning with his 134,000 subscribers.
The SHIB price is currently trading at around $0.000024, showing an 8% gain this week.
What you'll learn 👉
Market Activity Shows Increased Interest in Shiba Inu
ClayBro noted that Binance saw massive SHIB trading in the last 24 hours, with 379 billion tokens changing hands. Trading went up by 58%, hitting $761 million in volume. SHIB’s price moved between $0.000023 and $0.000024 during this time, gaining about 5%.
The Shiba Inu price managed to hold steady above $0.000024, which traders see as an important support level. This recovery lines up with what we’re seeing across the crypto market, especially with Bitcoin’s recent upswing. The price chart shows SHIB moving in an upward channel, suggesting more traders are getting involved.
The huge jump in Binance trading shows there’s still strong interest in SHIB. As usual with meme coins, SHIB tends to follow Bitcoin’s lead – when Bitcoin moves up or down, SHIB usually follows the same pattern.
Is Shiba Inu The Best Meme Coin to Buy Now? SHIB Price Prediction
According to ClayBro’s analysis, SHIB’s potential for huge price movements heavily depends on overall market strength. The token needs robust market conditions to achieve substantial gains.
If these favorable conditions materialize, breaking the 2024 yearly high of around $0.000035 appears to be the next logical target for SHIB. However, if market momentum slows and interest in meme coins wanes, the price could potentially break below support levels at $0.000020 and $0.000015.
In his assessment of the meme coin sector, ClayBro identified several emerging tokens, with Wall Street Pepe and Flockerz standing out as the best low-cap meme coins to invest in now. Wall Street Pepe ($WEPE) is a hot topic right now, raising over $40 million in presale, offering a utility-focused ecosystem that provides retail traders with advanced trading tools and insights.
Flockerz ($FLOCK), an Ethereum-based meme coin, features a Vote-to-Earn governance system called FlockTopia. The project has raised over $8.8 million in presale and allows token holders to participate in project governance while earning rewards for their votes.
Read also: Crypto Veteran Predicts XRP Price to Hit $15 in 2025, Updates On New Altcoin Pick
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