Shiba Inu (SHIB), the popular dog-themed memecoin, has witnessed a surge in trading volume over the past 24 hours, days ahead of its TREAT token launch.
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The SHIB/USD trading pair on Coinbase crypto exchange saw an impressive 1,711% surge in trading volume within the last 24 hours, according to Coinglass. SHIB’s overall trading volume surged to $503 million within the past 24 hours.
Surge Ahead TREAT Token Launch
The surge is primarily driven by anticipation of upcoming updates in the Shiba Inu ecosystem, including the highly anticipated launch of the TREAT token. According to a post from the official TREAT account on X, the token is set to debut on January 14, 2025.
TREAT is set to play a pivotal role in reshaping the Shiba Inu ecosystem. Positioned as a cornerstone for SHIB’s decentralization efforts, the TREAT token aims to enhance governance, rewards, and real-world utility, offering the SHIB Army advanced blockchain functionalities.
The announcement surrounding the new token has generated excitement among the Shiba Inu community, leading to a renewed wave of trading activity and speculation about the potential impact on SHIB’s price.
SHIB Price Remains Stable
Despite this significant increase in trading volume, SHIB’s price has remained relatively stable and stays around $0.00002378 levels at the time of writing, showing a 1.5% decline in the last 24 hours.
The token has gained over 10% in the past week, with rising trading volumes indicating potential upward momentum if key resistance at $0.0000255 is breached.
Why This Matters
The upcoming TREAT token launch could further strengthen the ecosystem, adding value to SHIB and potentially boosting long-term growth.
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