SHIB Breaks Free From BTC: Is a New ATH Coming?

December 8, 2024 at 10:35 AM GST updated: December 7, 2024 at 10:15 PM 2 mins read News

• Shiba Inu holds above $0.00003 despite Bitcoin’s 8% drop and market turmoil.
• 56.14 trillion SHIB tokens in liquidity pools could act as a major sell wall.
• Strong bullish activity suggests SHIB could target its all-time high of $0.00008845 soon.

Shiba Inu (SHIB) is showing remarkable resilience in a volatile market. Despite the ups and downs in broader market trends, SHIB is trading at the critical $0.00003 price level. While Bitcoin (BTC) recently experienced a sharp 8% decline, Shiba Inu only saw a minor 5.4% drop. This suggests growing investor confidence and the strength of SHIB’s market momentum. Now, the question arises: Can SHIB break its previous all-time high?

SHIB Demonstrates Strength as Bitcoin Falls

The price of Bitcoin recently dropped below $100,000 in a swift decline. Despite this, Shiba Inu displayed impressive stability. At the same time Bitcoin fell, SHIB rebounded quickly and held steady, signaling strong investor interest. According to IntoTheBlock data, 56.14 trillion SHIB tokens currently sit in liquidity pools above the current price point.

If strong buying pressure can absorb these tokens, Shiba Inu could surge toward its previous all-time high. The recent trends are a positive sign. SHIB is proving its ability to weather market volatility and maintain support levels during critical market movements. A sustained upward trend and active investor engagement could push SHIB to $0.00008845, its all-time high.

Is a New ATH Within Reach?

Investor sentiment and technical signals are pointing to potential growth for SHIB. If buyers continue to demonstrate strength and market momentum remains favorable, the token could experience a significant price rally.

The sell wall of 56 trillion tokens will act as a key test. But with Bitcoin’s recent decline and SHIB’s strong performance, the path looks promising.Shiba Inu has shown remarkable strength amid market uncertainty.

With investor confidence, positive technical analysis, and increasing demand, SHIB has all the ingredients needed to reach new heights. Investors will watch this upward trend closely to see if a new ATH will materialize.

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