Shiba Inu price spike occurred after SHIB rose from $0.00001203 to $0.00001303 on Coinbase, driven by a 169% intraday volume surge and heavy derivatives activity; short-term profit-taking produced a long upper wick and a subsequent retracement.
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Sharp intraday move from $0.00001203 to $0.00001303 on Coinbase
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Trading volume for SHIB/USD jumped 169% on Coinbase; derivatives volume reached $200.16 million
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Long upper wick on the daily candlestick and a 1.05 long/short indicator suggest buyer-initiated pump followed by seller pressure
Shiba Inu price spike: SHIB surged on Coinbase after a 169% volume jump; read the technical context and key takeaways for traders. Stay informed with COINOTAG.
What caused the Shiba Inu price spike?
Shiba Inu price spike was driven by a sudden surge in spot trading on Coinbase and elevated derivatives activity, which pushed SHIB from $0.00001203 to $0.00001303 intraday. The move showed bullish intent early, but sellers later capped gains, producing a long upper wick and a partial retracement.
Price action shows buyers initially pushed SHIB higher, but profit-taking and wider market weakness trimmed gains. CoinGlass data recorded a 169% uptick in SHIB/USD volumes on Coinbase during the event.
Shiba Inu (SHIB) Daily Chart, Courtesy: TradingView/Coinbase
How did trading volume and derivatives activity influence the move?
Front-loaded volume metrics show the immediate trigger: spot volumes on Coinbase spiked 169% for the SHIB/USD pair, coinciding with a derivatives volume of approximately $200.16 million. This combination amplified price volatility.
The CoinGlass long/short indicator reading of 1.05 indicates marginally more long positions than shorts, which can increase the impact of liquidations and rapid price swings during sharp moves.
What does the daily candlestick and support level tell traders?
The daily candlestick featured a long upper wick, a classic sign that buyers pushed price higher but sellers regained control before the close. The $0.000012 area has acted as confirmed support through multiple retests in August.
Pattern repetition—surges from the $0.000012 support on Aug. 22 and again on Aug. 30—suggests traders are using $0.000012 as a short-term anchor for entries and risk management.
How did SHIB perform across platforms and data sources?
CoinMarketCap data recorded SHIB trading at $0.00001238 at the time of reporting, up 1.51% over 24 hours. TradingView charts on Coinbase captured the intraday high/low swing from $0.00001203 to $0.00001303.
Comparison table: Key intraday metrics
| Metric | Value |
|---|---|
| Intraday low | $0.00001203 |
| Intraday high | $0.00001303 |
| Spot volume change (Coinbase) | +169% |
| Derivatives volume | $200.16 million |
| Long/Short indicator (CoinGlass) | 1.05 |
Frequently Asked Questions
Did Shiba Inu sustain gains after the spike?
Short-term retracement followed the spike: SHIB pulled back from the intraday high as sellers emerged. The presence of a long upper wick indicates incomplete follow-through and active profit-taking by traders.
How should traders interpret the 1.05 long/short reading?
A 1.05 long/short reading means slight predominance of longs; traders should watch for liquidation cascades if a swift reversal occurs, since marginal imbalances can magnify short-term volatility.
Key Takeaways
- Volume-driven move: A 169% spike in Coinbase spot volume was the primary immediate driver of the SHIB price spike.
- Derivatives amplified volatility: $200.16 million in derivatives activity and a 1.05 long/short ratio intensified intraday swings.
- Use $0.000012 as reference: The $0.000012 level remains a short-term support zone; traders should apply strict risk management around this anchor.
Conclusion
Shiba Inu’s recent price spike was a short-duration, volume-driven event where elevated spot and derivatives activity pushed SHIB from $0.00001203 to $0.00001303 before sellers trimmed gains. Traders should watch trading volumes, the CoinGlass long/short indicator, and the $0.000012 support level for next directional clues. For ongoing updates, follow COINOTAG coverage and monitor on-chain and exchange volume metrics.
