After being in a horizontal consolidation range between $0.000015 and $0.000012 since early August, Shiba Inu (SHIB) broke out of this zone recently. Known as the second-largest meme coin by market cap, SHIB registered a significant 13% price increase in the past 24 hours.
This price spike can be attributed to the deep liquidity exceeding $7 million, which has been a critical factor in driving confidence among traders and investors. The breakout from the liquidity zone signals renewed interest and potential upward momentum for SHIB in the market.
