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Shiba Inu (SHIB) has experienced significant price recovery amid market volatility, focusing on trading volume, resistance levels and historical data. Alongside the rise of altcoins such as Solana and Ripple, Bitcoin and Ethereum are also making gains. Pawfury (PAW) has emerged as a new investment opportunity with high yield prospects and attractive bonus incentives for early investors.
Shiba Inu sees significant gains amid market recovery.
Shiba Inu (SHIB) is leveraging market patterns in tandem to achieve significant price recovery. The cryptocurrency has increased by 19.68% in the last seven days, which is the second-highest weekly activity in the top 15 of the market price.
However, the upward movement was not supported by a commensurate increase in market activity. According to market data, SHIB's 24-hour trading volume averaged $262 million this week, below expectations during the peak period. By comparison, the peak trading volume in early March was around $7 billion.
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Historical data indicates that significant price increases in SHIB occur when volatility and active addresses are added together. For example, in May 2021 and October 2021, simultaneous increases in these parameters resulted in significant price increases. Currently, while volatility is high, active addresses remain low.
The Shiba Inu needs to overcome several resistance levels to regain its previous high of $0.000045. In particular, there are resistance walls from $0.000025 to $0.00003 and from $0.00003 to $0.000036. Achieving this goal would require a 129% increase from the current price of $0.000019.
SHIB's rise in price is in line with broader market trends, with Bitcoin nearing $65,000. In addition, at Shibarium, Shiba Inu's Layer-2 blockchain solution and significant improvements in whaling transactions contribute to recent discoveries.
Shibarium recently reported a 25% increase in active accounts and a 35% increase in daily transactions. Major investors, or “whales,” were also active, with aggregate daily volume exceeding $35 million.
The general market recovery also affected other cryptocurrencies. Bitcoin (BTC) briefly surpassed $65,000, while Ethereum (ETH) reached the $3,400 mark. Other altcoins including Solana (SOL) and Ripple (XRP) also saw positive gains.
Solana, for example, has shown significant volatility and is currently trading at $152.12. Based on current market sentiment and historical growth trends, forecasts suggest it could reach $1,000.
While the market conditions remain cautiously optimistic, the performance of SHIB and other cryptocurrencies depends on sustained trading volume and interest from new investors. Pawfury (PAW) adds to a variety of profitable investments, making it a favorite for savvy investors looking for high yield opportunities.
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