Recent data has revealed the crypto exchange with the highest trading volume of Shiba Inu, indicating an upward trajectory for the digital asset as the volume continues to surge in the crypto exchange. The crypto exchange that has propelled Shiba Inu’s growth lately is the leading cryptocurrency platform, Binance.
Shiba Inu Volume Doubles On Binance
According to CoinMarketCap, Binance is the top crypto exchange for the Shiba Inu market. The total volume of Shiba Inu being traded in the crypto exchange has since experienced a double-figure growth over the past 24 hours, presenting a bullish trend for the digital asset.
The upswing in Shiba Inu volume on the largest crypto exchange highlights the token’s appeal and points to a possible future growth spurt.
SHIB recorded a significant volume of $37,739,036 in the past 24 hours, indicating a volume rise of over 21% in less than a day. But as of the time of writing, the digital asset’s 24-hour trading volume is pegged at $40,539,374.
The crypto exchange’s spot trading volume mostly buttresses this surge in volume, with an overnight increase of over 11% valued at $173,262,859.
The digital asset has also seen a significant uptick in its 24-hour trading volume on Coinbase – the largest cryptocurrency exchange in the US. Shiba Inu’s trading volume on the exchange is currently pegged at over $12 million, indicating an over 6% rise in the past 24 hours.
Currently, Shiba Inu’s market capitalization is valued at $4.66 billion, with a current SHIB price of $0.0000079 as of the time of writing.
The amount traded in a day is $147.82 million. The digital asset has a circulating supply of approximately 589 billion and has increased by +1.72% during the past 24 hours.
So far, the digital asset is growing at a rate of 3.62%, continuing its upward trend. Over the past week, Shiba Inu has garnered the interest of traders and investors.
Rare Signal Sparks Price Increase For SHIB
Following a bullish trend in the TD sequential in the past week, the indicator has presented an upward trajectory for the price of Shiba Inu.
According to Ali Martinez, the TD Sequential sparked a rare ‘9’ buy signal on the Shiba Inu’s weekly chart; this signal presents a significant growth price for SHIB due to the infrequency of the particular signal.
“The TD Sequential flashed a buy signal on [the] SHIB weekly chart. Notably, the previous two bullish turns from this indicator led to price surges of 118% and 71%, respectively. Given the infrequency yet precision of such signals, it’s a pivotal moment to keep a keen eye on SHIB,” Martinez stated.
The last time TD Sequential indicated a ‘9’ buy signal for Shiba Inu was in September; the token’s price increased by over 71% during the next nine weeks. With the signal emerging yet again, we are likely to see a bullish trend.
Featured image from CryptoGlobe, chart from Tradingview.com
