The recent win of Grayscale Investments against the US Securities and Exchange Commission (SEC) has caused a surge in the price of Shiba Inu (SHIB) and other altcoins. The trading volume for SHIB has increased by 50% in the past 24 hours to over $182 million.The Ethereum layer-2 platform Shibarium, which is backed by the native SHIB token, has seen a spike in new wallet addresses. The total wallet count for Shibarium has increased from just over 100,000 to more than 336,000 in less than 48 hours. The daily transactions have also increased significantly from 132,000 on August 25 to nearly 80,000 as of 9 am ET on August 30.Analysts believe that the positive market reaction to Grayscale’s win against SEC could lead to further upside triggers for SHIB. SHIB holders are excited about Shibarium’s key milestone and this could be reflected in the short term price movement.SHIB bulls need to hold support at $0.0000075 to avoid ceding ground to bears. If this happens, primary resistance would be near $0.0000009. On the other hand, if the SHIB price falls below $0.00000070, it could open a downward path for bears to target lows of $0.00000061.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	None
Companies	Shibarium, Shibariumscan.io, US Securities and Exchange Commission, None, Grayscale Investments
Currencies	Shiba Inu, Ethereum, US Dollar, Bitcoin
Securities	None