The Shiba Inu (SHIB) ecosystem rejoiced as the second-largest meme coin surged. SHIB started the new week on a great note, rising by nearly 7% over the past 24 hours. At press time, SHIB was priced at $0.00001843. It looks like the meme coin was slowly embracing the bulls, increasing by 42% over the past 30 days.
Also Read: Ripple (XRP) & Dogecoin (Doge) Price Prediction For Mid-October 2024
SHIB Price Surge And Trading Volume Increase
Alongside its price, the asset’s trading volume witnessed a massive spike. Throughout the last 24 hours, SHIB’s volume reached a high of $490,178,807. This comes after a 78% uptick. In addition, data from CoinGlass revealed that SHIB’s futures also increased dramatically, rising by 26.31% to almost $307 million.
Rise In Open Interest
Furthermore, there has been a 14.65% increase in open interest in SHIB, or nearly $53 million. This significant increase in trading volume and open interest suggests that investor interest is developing and may bring about future price changes.
Also Read: Breaking: UAE Slashes VAT on Crypto Transfers – What It Means for You!
Shiba Inu: Mid-October Prediction
While Shiba Inu has started October on a good note, the meme coin will likely continue this trend. In the coming weeks, Changelly reveals that SHIB could be gearing up for double-digit gains. The asset will rise as high as $0.00002749 on October 14, which marks a 58% spike from its current price trend.
On October 15, SHIB will trade around $0.00002536 following a slight decrease. However, this price level is still 44% above its present zone.
The upcoming surge isn’t surprising to investors as October is deemed a bullish month for most assets in the cryptocurrency market. As a result, the SHIB community is betting on how high the meme coin could rise.
Also Read: BRICS: India Makes Major Announcement On U.S. Dollar Usage