Shiba Inu (SHIB) Prices Surge, Trading Volume Hits

Shiba Inu (SHIB) prices have surged over the past week, rising more than 120% to reach their highest level since late 2021. As of this writing, the SHIB meme coin is trading at around $0.00002132, up nearly 70% in the past 24 hours alone.The huge increase in prices coincided with an influx into the Shiba Inu market. According to YourPOP, a popular cryptocurrency YouTuber with over 125,000 subscribers, SHIB’s daily trading volume has reached $3 billion, which is the highest level since SHIB hit an all-time high last year.YourPOP said in his recent video: “Guys, we haven’t seen trading volumes like this since 2021, when we saw daily trading volume of Shiba Inu reaching around $7 billion. Today, we see that the market has A large amount of liquidity reached US$3 billion flowing into SHIB."YourPOP has been a long-time supporter of SHIB, citing fundamental developments in the project such as its second-layer solution Shibarium as the reason why he continues to have confidence in the token despite two years of consolidation.In the video, he reflects "Everyone told me to give up...but I held on to my Shiba Inu because I knew another bull market was going to come and SHIB would prevail because it wasn't just a meme. They built With so much infrastructure.” With prices surging and strong volumes returning, YourPOP’s belief in SHIB’s long-term potential appears to be being vindicated.From a technical perspective, Shiba Inu does appear to be slightly overbought in the short term. Its daily relative strength index (RSI) currently stands at 69, just above the overbought threshold of 70. However, bulls may note that SHIB spent part of its 2021 rally with RSI levels reaching above 80. The coin has also consolidated from past overbought rallies without triggering a major correction.As long as buying momentum continues to push prices higher, SHIB's RSI will likely have more room to run before signaling near-term exhaustion. Bulls will be watching to see if the RSI can move further into overbought territory, which would reinforce SHIB’s rapidly rising trend. Technical analysts say the current RSI conditions are not giving a clear sell signal, so the prospect of further gains remains. Follow me to create a circle of thousands of people preparing for the bull marketCoins with 100-fold potential in the bull market have no thresholdShare for free

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