SHIB Trading Activity Jumps as Prices Swing Sharply
Over the past 24 hours, Shiba Inu recorded 1.34 billion SHIB transactions as trading activity rose. The token fell from $0.00000580 to $0.00000534 over two days and touched $0.00000510 on Thursday before buyers returned. It is now near the $0.00000529 support level, with resistance around $0.00000545 to $0.00000549 and then $0.00000565, while the RSI sits at 44.
Shiba Inu recorded 1.34 billion SHIB transactions in 24 hours, a spike linked to a broader market sell-off that wiped out more than $1 billion in leveraged positions. Forced selling first drove activity, but some traders viewed the lower prices as a buying opportunity.
The token dropped from $0.00000580 to $0.00000534 over two days and touched $0.00000510 on Thursday. It now trades near $0.00000529, with resistance at $0.00000545–$0.00000549 and $0.00000565. Its RSI is 44, and September showed a similar price zone.
Sharp SHIB swings and heavy volume may affect retail crypto holders, especially those using leverage, by increasing the risk of rapid losses or forced liquidations. Traders watching support and resistance could see short-term opportunities, but uncertainty around RSI and volume may keep sentiment cautious. Wider crypto markets could feel spillover if meme-token volatility influences risk appetite, though the impact may remain limited to speculative participants.