Shiba Inu (SHIB) has staged a remarkable resurgence, surpassing the trillion-token trading volume milestone on June 30th. The popular meme coin has skyrocketed 72% in under 10 days, climbing from $0.00001015 to approximately $0.00001744.
SHIB Trading Volume Reaches Historic Levels
SHIB's re-entry into the "Trillionaire Club" represents significant momentum for the token. Analytics from IntoTheBlock reveal that on June 30th, SHIB's total transaction volume reached approximately 1.2 trillion tokens—among the highest figures ever recorded on its network.
This surge isn't merely speculative. Such substantial wallet-to-wallet activity typically indicates meaningful participation from traders moving large quantities of tokens, often foreshadowing more substantial price movements.
Spot trading volume on major exchanges also spiked over 40% within 24 hours, signaling either aggressive buying or profit-taking—both scenarios reflect genuine capital inflow.
SHIB Breaks Critical Technical Barriers
From a technical standpoint, SHIB has achieved a breakthrough that bulls have anticipated. The token surpassed its 26-day moving average (~$0.00001721) for the first time since May, demonstrating buyer confidence at elevated price levels.
After weeks of stagnation, this breakout suggests a potential reversal of the downtrend. However, SHIB still faces key resistance levels:
- 50-day moving average: $0.00001905
- 100-day moving average: $0.00001948
A sustained push above these could target $0.00002130.
SHIB Benefits from Altcoin Momentum
SHIB's rally aligns with broader altcoin strength as Bitcoin and Ethereum continue their upward trajectory. Historically, bullish momentum in major cryptocurrencies cascades into smaller tokens like SHIB.
The critical factor now is sustainability. For SHIB to extend gains, it must preserve:
- High trading volumes
- Technical breakout confirmations
Declining on-chain activity amid elevated prices could signal caution. Conversely, maintaining trillionaire-level trading volumes while conquering resistance levels might pave the way for more significant upside.
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FAQs
What triggered SHIB's 72% price surge?
The combination of renewed trading volume (1.2 trillion tokens), technical breakouts, and overall altcoin market momentum fueled SHIB's rally.
How significant is SHIB's return to the "Trillionaire Club"?
It reflects robust network activity, suggesting sustained interest beyond speculative trading—a positive indicator for long-term viability.
What are the next key resistance levels for SHIB?
The 50-day ($0.00001905) and 100-day ($0.00001948) moving averages. A breakout above these could target $0.00002130.
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SHIB's trillion-token trading volume milestone underscores its enduring appeal. Whether this translates into sustained growth depends on maintaining current momentum and overcoming technical hurdles. The altcoin wave offers tailwinds, but SHIB's fate hinges on continued network activity and market confidence.