Shiba Inu now kicks off 2025 with strong momentum, showing an impressive growth as it marks this as the third consecutive day of gains.
Shiba Inu (SHIB), a prominent player in the dog-themed cryptocurrency space, has made a powerful entry into 2025.
Beginning the year at a price of $0.00002, SHIB has shown impressive growth, reaching a peak of $0.00002413 today.
Broader Cryptocurrency Market Trends
Alongside Shiba Inu’s rise, the larger cryptocurrency market has been experiencing significant improvements as we usher in the new year.
Many digital assets are witnessing price surges, which seems to be reigniting investor interest and driving growth throughout the sector.
The Altcoin Advantage
Various altcoins, including Shiba Inu, are demonstrating robust performances.
Unlike Bitcoin, altcoins are known for their higher volatility, which often translates to greater opportunities for short-term profits.
This characteristic is playing a crucial role in the current upward trend seen across the market.
Historically, the first quarter has proven to be a favorable time for digital assets, which might explain the prevailing positive sentiment at the beginning of 2025.
Shiba Inu’s Current Performance
As of this writing, Shiba Inu is trading at $0.00002413, reflecting a 2% increase over the past 24 hours and a striking 9% rise over the week.
Additionally, SHIB’s 24-hour trading volume has surpassed $550 million, highlighting the growing interest in this particular token.
Notable Milestone: 102 Trillion SHIB Tokens
The recent rally in Shiba Inu’s price has propelled it into a crucial trading range characterized by significant historical activity.
Data from IntoTheBlock reveals that around 102.57 trillion SHIB tokens were acquired within the $0.000022 to $0.000024 price range.
This activity involved approximately 80,900 addresses, with an average acquisition price of $0.000023.
Currently trading slightly above this range at $0.00002413, Shiba Inu has successfully breached this minor resistance.
However, it now faces the next major resistance zone, which lies between $0.000024 and $0.00003.
Within this zone, over 70 trillion SHIB tokens are held by 207,630 addresses, indicating potential hurdles for further upward movement.
Support Levels to Watch
Should a price correction occur, Shiba Inu possesses strong support levels between $0.000019 and $0.000022.
Data suggests that around 28.77 trillion SHIB tokens are held by 47,250 addresses within this range, providing a solid foundation for the asset in the event of increased selling pressure.
Outlook for Shiba Inu in Early 2025
The overall strength of the cryptocurrency market at the start of 2025 is creating a favorable landscape for assets like Shiba Inu.
While SHIB’s current trajectory appears promising, its ability to sustain this momentum will hinge on how effectively it navigates resistance zones and maintains investor interest.
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Also Read: Shiba Inu Sees A Surge In Popularity Now Welcoming 7,548 New Wallets
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