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Crypto

SHIB Price Rallies 18%, Reclaims 50-Day SMA Amid Exceptional Volume

Guavy AI Editorial Team
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SHIB
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Shiba Inu (SHIB) experienced a significant price surge, rising by as much as 23% before settling at an 18% gain. This rally saw SHIB reclaim its 50-day Simple Moving Average (SMA), but the 100-day SMA capped the move.

The exceptional volume reached its highest displayed level on Coinbase, with over 538 billion SHIB traded in a single day. This surge in activity is a stronger indicator of the rally's authenticity than the reported increase in token burns or whale accumulation.

While the daily high matched the 100-day SMA near $0.00000519, price returned to approximately $0.0000049, indicating that sellers responded when the rally reached this level.

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