Today, the price of Shiba Coin is up 3% to $0.00002909, while the entire crypto market is up 4.5% over the past 24 hours.
SHIB is up 1.5% this week and 4.5% over the past two weeks, even though the popular mimic token is actually down 15% over the past 30 days.
Despite the underperformance, the coin's trading volume - which has risen from $350 million to $700 million in the past few days - suggests it's on the verge of a solid rally.
Moreover, the entire market is excitedly awaiting the next Bitcoin halving, so SHIB is likely to make some sizable gains soon.
With Trading Volume Surging to $600 Million, Trainers Coin Price Prediction - Is It Time to Buy?
With trading volume surging to $600 million, it seems like a very good time to buy SHIB as its indicators are pointing to the start of a rally.
Its 30-day moving average (orange) surpassed its 200-day moving average (blue) just over a day ago, forming a golden cross that can usually signal a breakout rally.
Similarly, the Shiba Inu's Relative Strength Index (purple) is approaching 70 after having dipped below 50 earlier in the morning.
When combined with the rising volume of Shiba Inu, traders will suspect that this coin is due for a healthy round of gains in the coming days.
In fact, this looks quite likely as whales have been accumulating Shiba Inu of late and there was even a large transfer today worth $19.26 million.
Therefore, it is reasonable to be optimistic about the price of Shiba Inu at the moment and the market as a whole looks very positive.
This is largely due to the upcoming Bitcoin halving, which will take place on April 20th.
Combined with healthy Bitcoin ETF trading volumes, the halving will only make traders more optimistic, and confidence will help drive the alternative coins higher.
This includes Trainers, which remains one of the most fundamentally strong modal coins on the market.
There are various reasons for this, the main one being that ShibaDog, unlike DogCoin (for example), has its own ecosystem of applications and platforms.
This includes, for example, the ShibaSwap decentralized exchange, as well as Shibarium, a second-tier network that launched last year.
Since the launch of Shibarium last August, the rate at which coins are being destroyed has increased dramatically.
Considering the continued popularity of the coin, these features will help ShibaSwap prices rise steadily over the long term.
It could reach $0.000040 in the next few weeks before rising to $0.00010 in the second half of the year.
