Shiba Inu SHIB Trading Volume Jumps 120% Amid Bear Market
Shiba Inu (SHIB) saw a 120% surge in trading volume despite a broader crypto downturn. Whale activity and social media hype by the Shiba Army drove the spike. Speculation around Shibarium updates and token burns added fuel. However, a volume jump does not guarantee price gains. Shiba Inu’s resilience in a bearish market highlights community-driven momentum and ecosystem growth. Traders should weigh SHIB’s volatility and speculative dynamics in their strategies.
Bullish
The 120% surge in Shiba Inu’s trading volume amid a broader market downturn signals renewed buying interest and heightened attention. Whale accumulation and strong community engagement often precede price rallies, suggesting potential upward pressure on SHIB. Historically, similar volume spikes in meme coins like Dogecoin have led to short-term price increases, as traders chase momentum. However, the speculative nature of meme tokens means volatility remains high. While the volume jump is bullish in the near term, long-term price direction will depend on Shiba Inu’s ecosystem developments, such as Shibarium adoption and token burn rates. Traders should monitor on-chain data and social sentiment to gauge the sustainability of this trend.