Shiba Inu Surges 5.5%: Can It Smash Through the $0.00001 Barrier?

Shiba Inu experienced an unexpected surge of 5.5%, igniting speculation about a potential short-term peak. Despite the rebound, the coin faces obstacles due to a 33% decline in trading volume, leading to discussions about erasing another zero from its price. While on-chain signals indicate setbacks, these negative trends could potentially lead to a reaccumulation phase. Shiba Inu’s price rose to $0.000008898, marking a significant growth after a week of stagnation. However, the decline in trading volume, currently at $103,074,070, has raised doubts about the coin’s ability to overcome the $0.00001 barrier. Various on-chain indicators such as address profitability, daily active addresses, and burn rate have all experienced downward trends. Nevertheless, there is optimism that these negative signals could create opportunities for a resurgence. After a substantial drawdown, sellers often ease off, creating favorable conditions for a potential recovery. Shiba Inu has set the stage for this reaccumulation phase, leveraging growth catalysts in the process. The overall bullish sentiment in the market provides hope for capital inflows, but the ultimate challenge for the meme coin remains breaking the $0.00001 resistance level.