Shiba Inu Rallies 10%: What Is Going On?

Shiba Inu (CRYPTO: SHIB) has seen a surge in activity, driven by rising whale transactions, increasing daily users and growing optimism from traders.

Trader Notes: In an X post on Tuesday, crypto trader Satori predicted a minimum 20% gain if SHIB breaks resistance, confirming a bottoming pattern.

Crypto trader Clifton Fx observed a falling wedge breakout, suggesting an ongoing retest on the daily chart.

World Of Charts highlighted SHIB breaking out of a descending channel, potentially setting up a 2x rally in the coming days.

InvestingHaven noted that Shiba Inu is quietly bullish as the chart continues to show strength, holding both key support levels.

He noted strong support at $0.000012345 and maintaining a 2025 target of $0.0000741.

Statistics: Shibariumscan data shows daily transactions moving higher from 3.7 million on Monday to 3.83 million on Tuesday.

IntoTheBlock data shows Shiba Inu large transaction volume spiked 72.8% in a single day, while transactions greater than $100,000 jumped from 50 to 65.

43% of traders are in profit, 47% underwater, 10% at breakeven.

Community News: Cryptocurrency exchange BingX announced the listing of SHIB on BingX Futures.

Shibarium Updates teased a major DeFi upgrade in Shib Finance, aiming to revolutionize DeFi with reputation-based lending and undercollateralized borrowing.

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