**The price of top meme coin Shiba Inu (SHIB) has surged over 50% in the past week, reaching a six-month high of $0.000025.** Driven by the broader meme coin rally, SHIB now faces a critical resistance level at $0.000028. With bullish momentum building, investors are watching closely to see if this barrier can transform into a support floor.
Surging Network Activity Signals Growing Demand
Recent on-chain data reveals a dramatic increase in Shiba Inu's network engagement:
- 346% rise in daily active addresses trading SHIB
- 458% spike in new addresses created for SHIB transactions
This surge in participation indicates:
- Heightened investor interest
- Expanding market adoption
- Strong underlying demand for the asset
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Bullish Indicators Support Further Gains
Rising Open Interest
SHIB’s futures market shows robust activity:
- $108.44 million in open interest (highest since May 2023)
- 12% increase in open contracts within 24 hours
Key interpretation:
Fresh capital entering SHIB markets often precedes extended price rallies.
Technical Outlook
- Breakthrough target: $0.000028 resistance → $0.000032 (March 2023 levels)
- Support floor: $0.000019 (if profit-taking occurs)
FAQs: Key Shiba Inu Questions Answered
Q: What’s driving SHIB’s current price surge?
A: Combination of meme coin market momentum, increased network activity, and rising futures market interest.
Q: How significant is the $0.000028 resistance level?
A: A decisive break above this price could trigger another 15-20% upward move based on historical liquidity pools.
Q: Should investors worry about a pullback?
A: While corrections are normal in volatile assets, SHIB’s strong fundamentals suggest any dip may attract new buyers.
Strategic Takeaways for Traders
- Monitor address growth: Sustained network expansion often correlates with price appreciation.
- Watch derivatives data: Rising open interest + price uptrend = bullish confirmation.
- Set key levels: $0.000028 (breakout point) and $0.000019 (support zone).
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Note: Always conduct independent research and consider risk management before investing. Crypto markets are highly volatile.