Shiba Inu (CRYPTO:SHIB), a popular meme coin, has experienced a significant surge in the past 24 hours, climbing to $0.00001748.

This rebound follows recent lows of $0.00001298 on July 5, marking a substantial recovery and reversing its previous downtrend.

Large holders have notably increased their transaction values by 229% since July 4, contributing to renewed price confidence.

The increase in large transactions, coupled with a 15% price surge, has brought SHIB back into focus within the meme coin community.

Speculation is rife whether SHIB can sustain this bullish momentum and potentially lead other meme coins in another upward trend.

Currently trading at $0.0000165, SHIB remains down by 3.81% over the past seven days but has shown bullish signals on the daily candlestick chart.