New Record Highs for Shiba Inu Buying Pressure

2022.05.29 11:01

New Record Highs for Shiba Inu Buying Pressure

• Yesterday, Shiba Inu trading volume hit and passed the 70% mark for the first time in two months.
• Shiba Inu was affected severely during the market crash a few weeks ago.
• Shiba Inu trading volume is now down by 40.98% in the last 24h.

A huge drop of more than 30% occurred in Shiba Inu around two weeks ago at the same time as Bitcoin plummeted below the $29,000 barrier. The token came dangerously close to putting a “zero” in the indexes, but it was able to avoid doing so as the market began to recover.

Despite this, investors are continuing to build up their holdings of cryptocurrency. On Coinbase (NASDAQ:COIN), trading activity for SHIB has reached new heights as a result of 77% of investors placing it on “buy” and just 23% keeping it on “sell.”

Since March, SHIB’s purchasing pressure has been unable to exceed the …

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