Crypto
Shiba Inu Price Surges 6%, Faces Key Resistance Amid Speculative Trading
Shiba Inu's price jumped roughly 6% in recent trading, reaching $0.0000054 from around $0.0000050. This rally comes despite a lack of token burns over the past 24 hours and weak weekly/monthly burn activity.
The meme coin is now facing resistance at $0.0000055-$0.0000056, with a potential upside target of $0.000006, an 11% gain from current levels.
Derivatives activity suggests speculative trading is driving the short-term volatility, with over $60 million in SHIB futures remaining open after liquidations and futures volume surging.