Shiba Inu Price Sees an Upward Trend, Impending Rally to $0.00005? -Breaking
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© Reuters Shiba Inu Price Sees an Upward Trend, Impending Rally to $0.00005?- As of the writing date, the (SHIB-) price has risen 1.3%
- The coin’s current price is slightly higher than last week, following the Robinhood (NASDAQ:) launch.
- The rally will be continued to $0.0000500 psychological levels if SHIB reaches $0.0000454.
After the continuing price drops experienced by crypto markets, Shiba Inu’s (SHIB), seems to be climbing. Investors wonder if the meme coin will rise within the coming week.
The SHIB price at the moment of writing is $0.0000256. This represents a 2.7% rise in the past 24 hours. SHIB, a crypto with a dog-themed theme has a 24 hour trading volume of approximately $626 million. It is currently ranked fifteenth on the cryptocurrency market. Meanwhile, SHIB’s live market cap is over $13.9 billion.
(Source: TradingView)
SHIB’s resistance level at $0.00003 is now 80%, as shown in the chart. Although this may appear bearish, it is actually a good indicator that SHIB remains in a solid position. The current price is slightly higher than the price it was last week when SHIBA was listed on Robinhood’s fintech trading platform.
On April 12, Robinhood released SHIB on its platform along with three other cryptocurrency tokens (SOL), Polygon(MATIC) and Compound. SHIB rose to 25% in the hour that the news was announced. It then jumped to 36%, but fell to 18%.
SHIB is yet to cross the $0.0000329 neckline even though it has seen price moves for more than 3 months. If a breakout happens—when a daily candlestick exceeds the barrier— SHIB will likely hit $0.0000454. This price could be reached and the rally may continue to $0.0000500 psychologically.
Noting that the SHIBA value is increasing, but still dependent on the direction of BTC the most popular crypto (BTC), is crucial. The price of SHIB and the rest of the altcoins could also drop if the BTC falls.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora advises its users to research cryptocurrency before making any investment.
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