SHIB Trading Volume Jumps 30% as Price Grapples with Key Level

Oct 22,2022
SHIB Trading Volume Jumps 30% as Price Grapples with Key Level

According to data from CoinMarketCap, although the market has fallen recently, the turnover of Shiba Inu has increased by 30%.

In the past 24 hours, 15 trillion SHIB, or 15871804471893, has been used for $160040063. The increase of uncertainty will generally lead to the increase of the trading volume of most cryptographic assets, because professional traders will trade a lot to gain profits. Therefore, the increase in SHIB trading volume may be caused by investors accumulating SHIB at the current low point.

Traders are likely to have been scrambling to take advantage of the opportunities brought by SHIB's recent joint venture of US $0.000010. Since October 10, SHIB has not been able to improve the 0.000010 sector, and the bear market in the stock market sometimes threatens to reduce it below the level of US $0.000009.

On October 19, Shiba Inu (SHIB) fell to the low of USD 0.00001002 again, almost falling below the important level of USD 0.000010. At the start, SHIB changed hands at US $0.0000101, down 1.93% in the past 24 hours. At present, the further decline in the level of buying and selling transactions is likely to mean that the bid price will increase by another zero, because it may retest the level of $0.000009.

Or, if the customer adopts the control method to push the price to $0.0000113 above the MA 50 every day, SHIB may reach the level of $0.000012 before detecting the natural barrier at $0.0000139.

More than 4.1 million SHIB has been burned in 24 hours

According to the return value of SHIB damaged Twitter, 4112566 SHIB tokens were damaged and 16 transactions were conducted in the past 24 hours.

With the reduction of combustion amount of SHIB, the combustion rate decreased by 92.52%. On the whole, from the initial supply of 1 trillion yuan, it burned 410382066798416 times.