Bitcoin
Bitcoin (BTC)
$65,464.00 -0.32738
Bitcoin price
Ethereum
Ethereum (ETH)
$3,537.58 2.77673
Ethereum price
BNB
BNB (BNB)
$594.87 -0.57377
BNB price
Solana
Solana (SOL)
$139.31 0.28957
Solana price
XRP
XRP (XRP)
$0.4963450 -1.01324
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 -1.40456
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 5.28418
Pepe price
Bonk
Bonk (BONK)
$0.0000219 -0.3505
Bonk price
Bitcoin
Bitcoin (BTC)
$65,464.00 -0.32738
Bitcoin price
Ethereum
Ethereum (ETH)
$3,537.58 2.77673
Ethereum price
BNB
BNB (BNB)
$594.87 -0.57377
BNB price
Solana
Solana (SOL)
$139.31 0.28957
Solana price
XRP
XRP (XRP)
$0.4963450 -1.01324
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 -1.40456
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 5.28418
Pepe price
Bonk
Bonk (BONK)
$0.0000219 -0.3505
Bonk price
Bitcoin
Bitcoin (BTC)
$65,464.00 -0.32738
Bitcoin price
Ethereum
Ethereum (ETH)
$3,537.58 2.77673
Ethereum price
BNB
BNB (BNB)
$594.87 -0.57377
BNB price
Solana
Solana (SOL)
$139.31 0.28957
Solana price
XRP
XRP (XRP)
$0.4963450 -1.01324
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 -1.40456
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 5.28418
Pepe price
Bonk
Bonk (BONK)
$0.0000219 -0.3505
Bonk price
Bitcoin
Bitcoin (BTC)
$65,464.00 -0.32738
Bitcoin price
Ethereum
Ethereum (ETH)
$3,537.58 2.77673
Ethereum price
BNB
BNB (BNB)
$594.87 -0.57377
BNB price
Solana
Solana (SOL)
$139.31 0.28957
Solana price
XRP
XRP (XRP)
$0.4963450 -1.01324
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000187 -1.40456
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 5.28418
Pepe price
Bonk
Bonk (BONK)
$0.0000219 -0.3505
Bonk price
SirWin
SirWin
SirWin

SHIB surges 17% in 24 hours, reaching two-month high

shib-surges-17-in-24-hours-reaching-two-month-high
Edited by
News
SHIB surges 17% in 24 hours, reaching two-month high

The second-largest meme coin, Shiba Inu (SHIB), has finally gained bullish momentum after a month of consolidation.

The SHIB price has been consolidating between $0.000022 and $0.000025 over the past month as the broader cryptocurrency market faced bearish conditions.

SHIB surges 17% in 24 hours, reaching two-month high - 1
SHIB price, whale activity, RSI, exchange inflow and outflow – May 29 | Source: Santiment

SHIB is up by 17% in the past 24 hours and is trading at $0.000029 at the time of writing. The meme coin’s market cap is sitting at $17.13 billion, making it the 10th-largest digital currency. Shiba Inu’s daily trading volume increased by 108%, surpassing the $2 billion mark.

This is the first time for SHIB to reach this price point since April 1.

According to data provided by Santiment, SHIB’s exchange inflow surged from 1.47 trillion to 2.49 trillion tokens over the past 24 hours. The amount of coins leaving the exchanges has reached 2.01 trillion SHIB.

The positive exchange net inflow of around 480 billion tokens shows that the amount of Shiba Inu holders looking for short-term profits is currently dominating the scene. 

Moreover, per Santiment, the number of whale transactions consisting of at least $100,000 worth of SHIB rallied by 80% over the past day — rising from 257 to 462 unique transactions.

It’s important to note that the Shiba Inu Relative Strength Index (RSI) hiked from 56 to 60 in the past 24 hours, data from the market intelligence platform shows. The indicator shows that SHIB is slightly overbought at this point and high price volatility would be expected.

Due to the heightened whale activity, high exchange inflows and RSI, the dog-themed meme coin could potentially face sharp correction.