On Friday, trading activity for Shiba Inu in the 'buy' category saw a double-digit surge. SHIB has been stagnant on the leaderboard for nearly three months, with little price increase. This situation has frustrated investors, as their funds have not grown. The price stagnation has made other meme coins profitable, while SHIB remains at a low position.
However, with the increase in buying activity, investors are now taking advantage of the continuous decline in Shiba Inu prices. This move suggests that traders are considering that the price may have bottomed out. Additionally, as buyers outnumber sellers, SHIB saw a significant rise today.
According to the latest SHIB data from Coinbase exchange, Shiba Inu's buying activity surged nearly 14%. For the first time in a month, SHIB's buying volume exceeded its selling volume. On Thursday, 4,500 traders clicked the 'buy' button, while 3,900 traders clicked the 'sell' button.
In addition, about 4,900 investors are watching the SHIB stock code but have not initiated any trades. This indicates that as buying activity increases, traders' interest in Shiba Inu is gradually warming up. However, data in the coming days will confirm whether this trend is just a flash in the pan or if demand is surging.
After nearly a month of stagnation, buying activity for Shiba Inu has rebounded.
Last quarter, due to a decline in buying activity relative to selling activity, investors had been taking a wait-and-see approach towards SHIB. Now, with buyers gradually entering after over a month of selling, there is a glimmer of hope for SHIB's recovery. In the coming days, SHIB's performance may determine its future trend: will it be a strong rebound or a continued decline? SHIB was once the darling of the cryptocurrency market, but now struggles to attract new investment buyers.