In just 24 hours, Shiba Inu (SHIB) achieved a remarkable trading volume of $100 million, hinting at a potential market shift.

SHIB Trading Volume Jumps 56%

As doubts surround the cryptocurrency industry, Shiba Inu (SHIB) has seen significant growth.

While investors wait for a possible recovery, the price movement of SHIB is depicting a gloomy image. However, it seems like soon enough the mood can begin to change.

Investor Optimism on SHIB Rise

According to CoinGlass, the 24-hour trading volume of SHIB has experienced an impressive surge today. To reach $100.02 million, it has increased by 56.12%. Those in the Shiba Inu community who have been holding out hope for the meme coin's price to rise have reason to be optimistic in light of this new information.

Traders are becoming interested in buying SHIB on all of the main cryptocurrency platforms.

According to the data, several sources contribute to it, including OKX ($51.73 million), BingX ($18.32 million), CoinEx ($11.86 million), and Bitget ($6.51), among others.

U.Today elaborates that this indicates is that the famous meme coin is attracting a lot of attention from investors. On top of that, it shows that they have begun purchasing the dips.

In the past day, SHIB's value has dropped by 3.57%, reaching $0.00001589. Also, in the last 30 days, it has maintained a decline of 7.25%.

Rising Trade Activity Signals Market Change

These numbers illustrate the present market pessimism. This proves that the Shiba Inu market has been consolidating for some time. Rising trade activity, however, may indicate a change in market attitude moving forward.

Also, a bull run could be around the corner, according to one important sign. Currently, the Shiba Inu RSI is hovering around 38.98, according to TradingView.

RSI Indicates Possible Bullish Trend

An RSI reading of around 40 indicates neutral emotion, so keep that in mind. However, it also signals a small shift in mood, favoring the bulls.

Coins that have confirmed their support levels and are likely to begin an upward trend often have relative strength indicators (RSIs) in this area.

In sum, SHIB is not completely out of the woods, and a market turnaround might be on the horizon.