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Shiba Inu Surges 2.7% After Fed Decision, But Volumes Lag

Coin WorldThursday, Jan 30, 2025 6:22 am ET

1min read

Shiba Inu (SHIB) has experienced a recent price increase, with a 2.7% rise to $0.000018 following the US Federal Reserve's decision. However, trading volumes remain below average at 4.17 trillion SHIB. Technical indicators, such as a developing death cross formation and declining trading volumes, suggest that the recent price uptick may be temporary.

The current price of SHIB stands at $0.00002008, with 47.60% of holders (682,390 addresses) at a loss and 50.2% (719,640 addresses) in profit. To reach $0.001, SHIB would require a 4,880% surge and a market cap of $589.25 billion. Reaching $0.01 would necessitate a 49,700% increase.

Key factors that could drive future price growth include aggressive token burns, increased Shibarium adoption, and the completion of ecosystem projects. The Shiba Inu ecosystem's development team is focused on reducing the circulating supply through token burns, with current supply at 589.25 trillion SHIB. Shibarium, SHIB's Layer-2 blockchain solution, also represents a potential growth driver, aiming to attract developers and projects with its low-cost, fast transactions.

The ecosystem continues to develop several projects, including SHIB: The Metaverse, Shiba Eternity, and SHIB Marketplace. While some initiatives like ShibaSwap are operational, others remain in testing or development phases. Market participants are closely watching the $0.000019 resistance level, which could prove crucial for SHIB's short-term price direction.

Recent whale activity and changing retail interest patterns have drawn attention from market analysts. These factors, combined with broader market conditions, could influence SHIB's price movement in coming trading sessions. Despite short-term challenges, several market observers maintain optimistic long-term price targets, suggesting potential paths to reach price points of $0.001 or even $0.01.

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