Shiba Inu’s double-digit rally: What’s driving it?

Shiba Inu’s [SHIB] price has rallied by double digits in the past three days amid the general uptick in the altcoin market.

SHIB is currently backed by significant bullish sentiment, which has led its price to rally by over 10% in the past three days.price has rallied by double digits in the past three days amid the general uptick in the altcoin market. In a recentIt has also witnessed a surge in its trading volume in the past few days. As of 29th May, SHIB’s daily trading volume totaled $2.11 billion, representing its highest since 17th March.

Further, SHIB’s Chaikin Money Flow , which tracks the flow of money into and out of the meme coin market, was above the zero line at press time. Spotted at 0.02, the value of SHIB’s CMF showed that buying pressure outpaced selling activity. This indicator identifies an asset’s trend strength and potential trend reversal points in its price movement. When the Aroon Up line is close to 100, it indicates that the uptrend is strong and that the most recent high was reached relatively recently.

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