Shiba Inu Rallies After Coinbase Listing

Shiba Inu Tries To Gain Additional Upside Momentum

Shiba Inu continues its attempts to settle above the resistance at $0.000009 as traders react to Coinbase listing. Such listing provides many traders with an opportunity to buy Shiba Inu, which is bullish for the cryptocurrency.

Meanwhile, Bitcoin remains stuck near the $48,000 level. In case Bitcoin manages to settle above this resistance level, it will gain additional upside momentum which will be bullish for the whole crypto market, including Shiba Inu.

Other cryptocurrencies are mostly moving higher. Ethereum has recently made an attempt to settle above the resistance at $3,600. XRP is trading near $1.09 while Dogecoin is testing the resistance level at $0.2570.

Technical Analysis

shiba inu september 17 2021

Shiba Inu has recently made an attempt to settle above the resistance level at $0.0000095 but failed to develop sufficient upside momentum and pulled back. RSI remains in the moderate territory despite the recent rally so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

Currently, Shiba Inu needs to settle back above $0.000009 to have a chance to develop upside momentum in the near term. In case Shiba Inu gets above $0.000009, it will head towards the next resistance level which is located at the recent highs at $0.0000095.

A successful test of this level will open the way to the test of the psychologically important resistance at $0.000010. If Shiba Inu manages to settle above $0.000010, it will move towards the resistance at $0.0000105.

On the support side, the nearest support level for Shiba Inu is located at $0.0000085. In case Shiba Inu declines below this level, it will head towards the support at $0.000008.

A move below $0.000008 will open the way to the test of the support at $0.0000077. If Shiba Inu manages to settle below this level, it will head towards the next support which is located at $0.00000745.

For a look at all of today’s economic events, check out our economic calendar.

Coinbase Adds Support for Shiba Inu, Meme Coin Soars

Leading cryptocurrency exchange Coinbase announced it supports meme coin Shiba Inu for users. Coinbase customers can now trade Shiba Inu on Coinbase.com as well as the company’s mobile apps on iOS and Android.

Earlier this month, Coinbase listed Shiba Inu on its professional trading platform, Coinbase Pro, an addition that was initially announced in June but was delayed due to a technical glitch.

Shiba Inu is an Ethereum based decentralized meme token. It was created as an alternative to fellow meme coin Dogecoin, whose mascot is a Shiba Inu, a Japanese dog breed.

The Shiba Inu community cheered the move, sending the cryptocurrency soaring more than 20% in the last 24-hour period to $0.000008299. Trading volume in SHIB/USD was $243 million at last check based on CoinMarketCap data.

The Shiba Inu team is famous for gifting Vitalik Buterin with a large chunk of the Shib supply, which the Ethereum co-founder then sent to a charity.

Elon Musk Bump

Shiba Inu investors also recently celebrated when Tesla CEO Elon Musk, who is a known Dogecoin fan, posted a picture of a new puppy, a Shiba Inu. Musk said in June that his “Shiba Inu will be named Floki,” which is the name of a boat builder character in the Vikings series on The History Channel.

Musk’s big reveal captured the attention of the Dogecoin team, which tweeted in response that his “doge is shaped somewhat like a small bean.” The Doge price is currently trading more than 3% lower at $0.2375. On social media, Dogecoin investors tout the $1 threshold as a target price for the meme coin.   

Source: Twitter

Coinbase Moves

Coinbase announced the Shiba Inu listing in the face of regulatory scrutiny. The company is doing battle with the U.S. SEC over a lending product it wants to launch in October. Regulators have warned Coinbase that if it follows through with its plans, the SEC is prepared to sue.

In addition, Coinbase has started the process to begin trading cryptocurrency derivatives. The company has filed an application with the National Futures Association, which if approved would put it under the regulatory oversight of the CFTC. Coinbase would be joining the likes of the CME, which currently supports futures trading in bitcoin and Ethereum.

Shiba Inu Is Losing Ground While Bitcoin Tries To Settle Below $46,000

Shiba Inu Is Under Pressure Ahead Of The Weekend

Shiba Inu failed to settle above the resistance level at $0.00000745 and declined towards the support at $0.000007 while Bitcoin made an attempt to settle below the support level at $46,000.

Bitcoin stabilized in the $46,000 – $47,000 range after the major sell-off. It has already made several attempts to gain upside momentum but these attempts yielded no results. This is an important moment for the whole crypto market as Bitcoin’s failure to rebound after a major sell-off may trigger another wave of selling which will put pressure on other cryptocurrencies.

It should be noted that the crypto market mood is bearish today. Ethereum continues its attempts to settle below $3,400. Dogecoin is trying to settle below $0.25 while XRP has moved back below $1.10 after a test of the resistance near $1.25.

Technical Analysis

shiba inu september 10 2021

Shiba Inu made several attempts to settle above the resistance level at $0.00000745 but failed to develop sufficient upside momentum and pulled back. Currently, Shiba Inu is trying to settle below the support level at $0.000007.

In case Shiba Inu declines below this level, it will move towards the next support level which is located at $0.0000067. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

A move below the support level at $0.0000067 will push Shiba Inu towards the next support at $0.0000065. If Shiba Inu manages to settle below this level, it will head towards the next support at $0.0000063.

On the upside, Shiba Inu needs to settle above the resistance at $0.00000745 to have a chance to develop upside momentum in the near term. The next resistance level for Shiba Inu is located at $0.0000077.

A move above the resistance at $0.0000077 will open the way to the test of the resistance at $0.000008. In case Shiba Inu settles above $0.000008, it will head towards the next resistance level at $0.0000085.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Retreats Amid Broad Weakness In Crypto Markets

Shiba Inu Is Under Pressure

Shiba Inu is currently trying to settle below the support level at $0.000007 while Bitcoin is moving lower. The world’s leading cryptocurrency has managed to settle above the resistance at $51,500 and made an attempt to settle above the next resistance level at $53,000. This attempt yielded no results and Bitcoin pulled back, which triggered a pullback in many cryptocurrencies.

Ethereum failed to settle above the psychologically important $4,000 level and moved below $3,900. Dogecoin is currently trying to settle below $0.30 while XRP is testing the support at $1.35.

Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, has recently moved away from lows near 41%. It should be noted that the recent decline of Bitcoin Dominance provided no material support to Shiba Inu as traders focused on major altcoins.

Technical Analysis

shiba inu september 7 2021

Shiba Inu settled below the support at $0.00000745 and got to the test of the next support level at $0.000007. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

In case Shiba Inu declines below the support level at $0.000007, it will move towards the next support at $0.0000067. A successful test of this level will push Shiba Inu towards the support which is located at the recent lows at $0.0000065. If Shiba Inu settles below this support level, it will head towards the next support at $0.0000063.

On the upside, the nearest resistance level for Shiba Inu is located at $0.00000745. A move above this level will push Shiba Inu towards the resistance near the recent highs at $0.0000077. In case Shiba Inu gets above this level, it will head towards the next resistance level at $0.000008. A successful test of this level will provide Shiba Inu with an opportunity to get to the test of the next resistance at $0.0000085.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Tests Support At $0.000007 As Pullback Continues

Shiba Inu Remains Under Pressure While Bitcoin Tests Support At $48,000

Shiba Inu is currently trying to settle below the support level at $0.000007 while Bitcoin is testing the support at $48,000.

Bitcoin has recently made another attempt to settle above the key resistance level at $50,000 but failed to develop sufficient upside momentum and pulled back towards the support at $48,000. The nearest support level for Bitcoin is located at the 20 EMA at $47,000. In case Bitcoin declines below the 20 EMA, it will head towards the next support level at the recent lows at $46,000 which will be bearish for Shiba Inu and other cryptocurrencies.

Not surprisingly, Bitcoin’s failure to settle above the major resistance at $50,000 had a negative impact on the crypto market. Dogecoin remains stuck near the $0.28 level. Ethereum slipped back below $3,200, while XRP continues its attempts to settle below $1.12.

The lack of momentum in Bitcoin is clearly bearish for other cryptocurrencies, and Shiba Inu needs an improvement in crypto market sentiment to gain upside momentum.

Technical Analysis

shiba inu august 30 2021

Shiba Inu settled below the 50 EMA at $0.00000745 and is trying to settle below the next support level at $0.000007. This support level has already been tested several times and proved its strength.

In case Shiba Inu declines below $0.000007, it will head towards the next support level which is located at $0.0000067. A successful test of this level will open the way to the test of the support at $0.0000065. A move below $0.0000065 will push Shiba Inu towards the support at $0.0000063.

On the upside, the nearest resistance level for Shiba Inu is located at the 50 EMA at $0.00000745. A move above this level will push Shiba Inu towards the resistance at $0.0000077. In case Shiba Inu settles above $0.0000077, it will head towards the next resistance level at $0.000008. If Shiba Inu gets above this level, it will continue its upside move and head towards the resistance at $0.0000085.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Tests Resistance At $0.0000085

Shiba Inu Tries To Gain More Ground Ahead Of The Weekend

Shiba Inu made an attempt to settle above the resistance level at $0.0000085 while Bitcoin continued to trade in the range between the support level at $46,000 and the resistance level at $48,000.

Bitcoin has recently made an attempt to get to the test of the significant resistance level at $48,000 but lost momentum and pulled back. The resistance at $48,000 has already been tested several times and proved its strength. In case Bitcoin manages to settle above this level, it will gain additional upside momentum and head towards the psychologically important $50,000 level which will be bullish for the whole crypto market, including Shiba Inu.

Meanwhile, Dogecoin, which often has an impact on Shiba Inu dynamics, made an attempt to get above the resistance at $0.33 but also lost momentum. A move above $0.33 will push Dogecoin towards the resistance at $0.35 which will be bullish for Shiba Inu.

Technical Analysis

shiba inu august 20 2021

Shiba Inu has recently managed to settle back above $0.000008 and is trying to get above the next resistance level which is located at $0.0000085. RSI returned to the moderate territory after the recent pullback, and there is plenty of room to gain upside momentum in case the right catalysts emerge.

If Shiba Inu manages to settle above the resistance level at $0.0000085, it will head towards the next resisatnce at $0.000009. A move above $0.000009 will open the way to the test of the next resistance which is located near the recent highs at $0.0000093. In case Shiba Inu gets above this level, it will continue its upside move and head towards the next resistance at $0.0000096.

On the support side, the nearest support level for Shiba Inu is located at $0.000008. A move below this level will push Shiba Inu towards the next support which is located at the 20 EMA at $0.0000077. In case Shiba Inu declines below the 20 EMA, it will head towards the 50 EMA at $0.00000745.

For a look at all of today’s economic events, check out our economic calendar.

Bitcoin Pulls Back As Demand For Riskier Assets Declines

FOMC Minutes Put Some Pressure On Bitcoin And Other Cryptocurrencies

Bitcoin has recently made an attempt to settle below the support level at $44,000 as riskier assets found themselves under pressure after the release of FOMC Minutes.

The Fed will likely reduce its asset purchase program in 2021, which is bearish for riskier assets. Meanwhile, the safe-haven U.S. dollar rallied to yearly highs, which indicates that traders have started to prepare for the reduction of Fed’s asset purchase program.

The crypto market is not always correlated with more established markets but it cannot ignore big news. Traders are moving out of riskier positions today, and many cryptocurrencies are under pressure. Ethereum is testing the psychologically important $3000 level. Dogecoin is trying to settle below $0.30, while Shiba Inu is testing the support level at $0.000008.

It should be noted thtat while the current crypto market mood is somewhat bearish, it remains to be seen whether Bitcoin and other cryptocurrencies will remain sensitive to news from the Fed.

Technical Analysis

bitcoin august 19 2021

Bitcoin has recently tried to settle below the support level at $44,000. This support level has already been tested several times and proved its strength.

In case Bitcoin manages to settle below the support at $44,000, it will gain downside momentum and move towards the next support level which is located at the 20 EMA at $43,500.

A move below the 20 EMA will open the way to the test of the support at $42,000. If Bitcoin settles below $42,000, it will head towards the next support at $41,300. A successful test of this level will open the way to the test of the support at the 50 EMA at $40,500.

On the upside, the nearest resistance level for Bitcoin is located at $46,000. If Bitcoin moves above $46,000, it will head towards the resistance at $48,000. A successful test of this level will push Bitcoin towards the psychologically important $50,000 level.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Tries To Settle Above The Resistance At $0.000009

Shiba Inu Attempts To Continue Its Upside Move

Shiba Inu faced resistance near $0.0000093 and pulled back while Bitcoin moved below the support at $46,000.

Bitcoin did not manage to settle above the resistance level at $48,000 and pulled back towards the support level at $46,000 as some traders decided to take profits off the table after the recent upside move.

The next support level for Bitcoin is located at $44,000. If Bitcoin gets to the test of this level, other cryptocurrencies will likely find themselves under pressure.

However, it should be noted that Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, continues to fall, which indicates that interest for altcoins is growing. This is bullish for Shiba Inu.

Meanwhile, Dogecoin, which often has an impact on Shiba Inu dynamics, has recently made an attempt to settle below the support at $0.3150 but failed to develop sufficient downside momentum and moved back to the resistance level at $0.33. In case Dogecoin manages to settle above this level, it will head towards the next resistance level at $0.35 which will be bullish for Shiba Inu.

Technical Analysis

shiba inu august 17 2021

Shiba Inu managed to settle above the resistance level at $0.0000085 and is trying to settle above the next resistance at $0.000009. RSI is in the overbought territory, and the risks of a pullback are significant.

In case Shiba Inu settles above $0.000009, it will get to another test of the resistance level at $0.0000093. This resistance level has already been tested several times and proved its strength.

A successful test of the resistance at $0.0000093 will push Shiba Inu towards the resistance at $0.0000096. If Shiba Inu gets above $0.0000096, it will head towards the psychologically important resistance level at $0.000010. A move above this level will open the way to the test of the resistance at $0.00001050.

On the support side, a move below $0.000009 will push Shiba Inu back towards the support level at $0.0000085. In case Shiba Inu declines below this level, it will head towards the next support at $0.000008.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Moves Higher As Bitcoin Tests Resistance At $46,000

Shiba Inu Gains Ground As Crypto Markets Stay Strong

Shiba Inu is currently trying to settle above the resistance at $0.000008 while Bitcoin continues its attempts to settle above the resistance at $46,000.

The recent rally of the world’s leading cryptocurrency had a positive impact on Shiba Inu, which has spent many days trading in a tight range near $0.0000063. Trading volume increased, and Shiba Inu looks ready for more action.

Meanwhile, Dogecoin is also moving higher. Currently, Dogecoin is trying to get to the test of the resistance level at $0.2750. In case Dogecoin manages to settle above this level, it will gain additional upside momentum which will be bullish for Shiba Inu as meme cryptocurrencies often make big moves together.

Technical Analysis

shiba inu august 11 2021

Shiba Inu managed to settle above the resistance level at $0.0000075 and is trying to move above the next resistance which is located at $0.000008. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

In case Shiba Inu gets above the resistance at $0.000008, it will head towards the next resistance level at $0.0000085. A successful test of this resistance level will open the way to the test of the resistance which is located near the recent highs at $0.000009. In case Shiba Inu manages to get above this level, it will continue its upside move and get to the test of the resistance at $0.0000093.

On the support side, the previous resistance level at $0.0000075 will serve as the first support level for Shiba Inu. In case Shiba Inu declines below this level, it will head towards the next support level at $0.000007. The 50 EMA is located at $0.0000071 while the 20 EMA is located at $0.0000069, so Shiba Inu will likely get significant support near $0.000007. In case Shiba Inu declines below the 20 EMA, it will move towards the next support level at $0.0000067.

For a look at all of today’s economic events, check out our economic calendar.

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Shiba Inu Devs Deliver on Coin Burn, Price Soars

Meme token Shiba Inu continues to build out its ecosystem, and investors have been waiting to see when the price of the cryptocurrency will reflect these ambitions. On Sunday, the Shiba Inu price gave investors what they were looking for by rallying nearly 20%.

The Shiba Inu price currently hovers at USD 0.00000814 with volume reaching a stronger than average USD 1 billion. This weekend alone, the Shiba Inu price has seen its value balloon by more than 30%.

Shiba Inu Price Nudge

The Shiba Inu price may have received a nudge from the project’s developer team. Shib developers announced a two-pronged strategy that appears to have set the rally in motion, including the addition of:

  • New pairs on decentralized exchange (DEX) ShibaSwap
  • A coin burn

The developers appear to have expanded their “new listings plans” to include a coin burn of two major coins in the ecosystem, Shiba Inu (SHIB) and Leash (LEASH). This includes the addition of two new ETH-fueled trading pools on ShibaSwap:

  • Perlin (PERL-ETH)
  • Ryoshi (RYO-ETH)

The addition of these two pools coincides with a USD 25K coin burn for SHIB and a USD 25K coin burn for LEASH tokens.

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According to the Shiba Inu website, the Leash token has a total supply of 107,646 tokens. Shiba Inu started with a supply of 1 quadrillion, but the Shiba Inu team gifted 50% of the supply to Ethereum co-founder Vitalik Buterin, who proceeded to burn most of that in a “dead wallet.” He reportedly donated the rest of his Shib holdings to charity.

In response to the coin burn, Shiba Inu investors expressed their excitement about the price rally on social media channels, including Twitter and Telegram. Some were quick to point out, however, that it is just as important to grow what they refer to as the “Shib Army” to strengthen the long-term potential of the project. Others were calling for larger and more frequent coin burns in order to sustain the rally. Burning removes the coins from circulation and keeps a handle on the inflation model.

Bitforex Bump

BitForex, a digital asset trading platform, may also be responsible for fueling the rally in the Shiba Inu price. The company is behind a “Crypto Cup” competition in which participants can support their favorite cryptocurrency project. Meme coins Shiba Inu and Dogecoin are going head to head.

Source: Bitforex

At last check, SHIB is ahead with the lion’s share of the vote. The SHIB vs. DOGE preliminaries competition will unfold through Aug. 10.

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Shiba Inu Is Stuck In A Tight Range

Shiba Inu Drifts Lower As Bitcoin Fails To Settle Above Key Resistance At $40,000

Shiba Inu managed to settle below the support level at $0.0000063 and is trying to get closer to the $0.0000061 level while other cryptocurrencies are moving lower.

Bitcoin has once again failed to settle above the key resistance level at $40,000 and declined below the support at $39,200. If Bitcoin gets to the test of the next support level at $38,000, Shiba Inu and other cryptocurrencies may find themselves under additional pressure.

Ethereum made an attempt to settle above $2,750 but lost momentum and pulled back below $2,700. Dogecoin faced resistance at the 20 EMA at $0.2025 and declined below $0.20.

At this point, Shiba Inu lacks internal catalysts, and it needs a general rally in crypto markets to gain additional upside momentum.

Technical Analysis

shiba inu august 5 2021

Shiba Inu is currently stuck in a tight range between the support at $0.0000061 and the resistance at $0.0000063. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

If Shiba Inu manages to settle below the support at $0.0000061, it will head towards the next support level which is located at $0.000006. A successful test of this level will push Shiba Inu towards the support at $0.0000057. In case Shiba Inu declines below the support at $0.0000057, it will head towards the next support at $0.0000055.

On the upside, the nearest resistance level for Shiba Inu is located at the high of the current trading range at $0.0000063. If Shiba Inu manages to settle back above this level, it will head towards the next resistance level near the 20 EMA at $0.0000065.

A move above the resistance at the 20 EMA at $0.0000065 will push Shiba Inu towards the resistance at $0.0000067. In case Shiba Inu gets above this resistance level, it will head towards the next resistance which is located near the 50 EMA at $0.000007.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Makes Its Way Onto Coinbase Custody

The Shiba Inu community has been awaiting the official announcement from Coinbase for the meme coin to be added to the cryptocurrency exchange’s professional trading platform. Coinbase has taken a step in that direction by adding support for SHIB to Coinbase Custody, but that does not translate to a listing.

Coinbase Custody is a platform on which clients can store their cryptocurrency assets via cold storage hardware wallets, which are offline vs. hot wallets that store assets online.  The custody platform is also insured and overseen by the New York regulator, the NYDFS.

In addition to Shiba Inu, Coinbase also announced that it added custody support for a couple of other cryptocurrencies, including Clover Finance and Mask Network. Based on the social media response, the Shiba Inu community is crossing their fingers that the custody addition signifies growing institutional demand for their favorite meme coin.

‘Technical Difficulties’

Shiba Inu investors recently got their hopes up about an upcoming Coinbase Pro listing. That type of exposure would bring more attention to the project and potentially give the SHIB price the jolt that holders are looking for. In mid-June, Coinbase followed up its announcement with an update, revealing that the listing had been delayed due to “technical issues.” The exchange has been vague about the details. A Coinbase spokesperson told us:

“SHIB is temporarily delayed in launching on Coinbase Pro – any new updates will be sent on the same Twitter handle.”

Meanwhile, Shiba Inu, which mimics the mascot of the Dogecoin project, a Japanese dog breed Shiba Inu named Doge, has had other victories. SHIB was recently added to digital broker eToro, for instance. There is also an online petition on Change.org with more than 174K signatures to see Shiba Inu listed on the popular trading app Robinhood.

Shiba Inu Price

The latest development has done little for the Shiba Inu price, which is down fractionally in the last 24-hour period. Over the past month, the SHIB price has shaved approximately 30% off its value amid a broader downturn in the crypto market.

It seems as though it is a matter of when, not if, Shiba Inu will be added to Coinbase. In the interim, the Shiba Inu community is waiting for the market winds to shift in their favor.

Shiba Inu Continues To Drift Lower

Shiba Inu Remains Under Pressure While Bitcoin Tests The Resistance At $40,000

Shiba Inu continues its attempts to settle below the support at $0.0000063 while Bitcoin is testing the key resistance at $40,000.

The recent Bitcoin’s rally provided support to many cryptocurrencies, but Shiba Inu remained under pressure. This a bearish sign for Shiba Inu as it indicates that the interest in this cryptocurrency continues to decline. Dogecoin, whose trading dynamics often have an impact on Shiba Inu, performed better, but it trades well below recent highs near $0.2350.

At this point, it looks that Shiba Inu will need additional catalysts to get back to the upside mode. If Bitcoin manages to settle above the key resistance level at $40,000, it will likely gain significant upside momentum which will be bullish for the whole crypto market, but it remains to be seen whether it will boost Shiba Inu as the cryptocurrency has completely ignored the latest upside move of Bitcoin.

Technical Analysis

shiba inu july 28 2021

Shiba Inu settled below $0.000007 and is trying to settle below the next support level at $0.0000063. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum.

In case Shiba Inu declines below the support level at $0.0000063, it will move towards the support at $0.0000055. A successful test of this level will open the way to the test of the support which is located at $0.0000044. If Shiba Inu gets below this level, it will move towards the next support at $0.0000034.

On the upside, Shiba Inu needs to get above $0.000007 to have a chance to develop upside momentum. If Shiba Inu manages to get back above $0.000007, it will head towards the next resistance level which is located at $0.000008. A move above this level will push Shiba Inu towards the resistance level which is located at $0.000009.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Inches Closer to an eToro Listing

Cryptocurrency investors have been on a wild ride of late, and Amazon.com has been in the middle. Now that Amazon has set the record straight, sort of, on where it stands on bitcoin, investors can focus on what they know best, including meme coins. Ethereum-based Shiba Inu is a fan favorite, and it looks like holders of this cryptocurrency could be getting what they want.

Investment platform eToro has been adding cryptocurrency assets fast and furiously. The Shiba Inu community has been waiting for their turn but has remained on the sidelines as the social investment firm has gone in another direction. For instance, eToro in recent days announced the addition of cryptocurrencies Maker and Enjin on its platform, which added insult to injury for SHIB investors.

Shiba Inu has not fallen off of eToro’s radar, however. Now it appears that the investment firm is closer than ever to listing the meme coin. The company announced that it is “on the case to officially list [Shiba Inu] on eToro,” urging the Shib fam to “hang tight.”

Shiba Inu launched a year ago in the wake of the larger meme-coin project Dogecoin. Shiba Inu, which considers itself a “Dogecoin Killer,” recently amassed 600,000 holders, but the price has been caught in the crypto market downdraft.

Coinbase Chatter

Shiba Inu investors are not stopping at eToro, however. They are also looking to leading cryptocurrency exchange Coinbase.com as well as popular trading app Robinhood to recognize and add their favorite meme coin. Coinbase is not averse to listing meme coins and already supports Shiba Inu rival Dogecoin. Coinbase Pro for sophisticated investors intends to list Shiba Inu but those plans hit a snag, resulting in a “temporary delay.”

Meme Coin Listings

Shiba Inu isn’t the only meme coin that trading platforms have their eye on. Baby Doge Coin, whose meme father is Dogecoin, has snagged a listing in BitMart, effective July 28.

For its part, Baby Doge Coin boasts more than 500,000 holders. The project has also been burning its supply, including 250 trillion coins burned in recent days. Nonetheless, the price is down nearly 70% from its all-time high of USD 0.000000005890 reached in early July, as per CoinGecko market data.

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Shiba Inu Remains Under Pressure At The Start Of The Week

Shiba Inu Declines As Crypto Markets Move Lower

Shiba Inu is currently trying to get to the test of the support at $0.0000063 while Bitcoin is stuck in the $31,000 – $32,000 range.

Bitcoin has recently managed to get below the important support level at $32,000 but failed to move towards the next support at $31,000. This is a positive development for the whole crypto market as it indicates that the world’s leading cryptocurrency continues to get some support after the recent pullback.

Meanwhile, Dogecoin, which often has a material impact on Shiba Inu dynamics, has managed to get below $0.18 and continues to drift lower. Dogecoin has recently made an attempt to rebound but this attempt was quickly stopped. As a result, the technical picture for Dogecoin remains bearish, which is also bearish for Shiba Inu.

Technical Analysis

shiba inu july 19 2021

Shiba Inu managed to settle below the support at $0.000007 and is trying to settle below the next support level which is located at $0.0000063. RSI remains in the moderate territory despite the recent pullback, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

In case Shiba Inu declines below the support at $0.0000063, it will move towards the major support level at $0.0000055. Shiba Inu made two attempts to settle below $0.0000055 back in June but received strong support near this level.

A successful test of the support at $0.0000055 will open the way to the test of the support at $0.0000044. A move below this level will open the way to the test of the next support at $0.0000034.

On the upside, the previous support at $0.000007 will serve as the first resistance level for Shiba Inu. In case Shiba Inu gets above this level, it will move towards the resistance at $0.000008. A move above this level will push Shiba Inu towards the resistance level which is located at $0.000009.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Attempts To Settle Below The Support At $0.000007

Shiba Inu Remains Under Pressure

Shiba Inu is currently trying to settle below the support at $0.000007 as crypto markets remain under pressure.

Yesterday, Bitcoin made an attempt to settle below the support at $32,000 but failed to develop sufficient downside momentum. As a result, Bitcoin continues to trade in the $32,000 – $35,000 range. However, it should be noted that Bitcoin is close to the lower end of this range, and another test of the important support level at $32,000 looks imminent. If Bitcoin manages to settle below this level, it may gain strong downside momentum which will be bearish for all cryptocurrencies including Shiba Inu.

Dogecoin, which often has a material impact on Shiba Inu, remains under pressure. Currently, Dogecoin is trying to settle below $0.19. Dogecoin’s downside trend looks strong which is bearish for Shiba Inu.

At this point, it is clear that Shiba Inu will need additional upside catalysts to get back to the upside mode.

Technical Analysis

shiba inu july 15 2021

Shiba Inu managed to settle below the support at $0.000008 and is testing the next support level at $0.000007. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum.

If Shiba Inu declines below $0.000007, it will move towards the next support level at $0.0000063. A successful test of this level will open the way to the test of the support at $0.0000055. This support level has been tested several times in June and proved its strength.

In case Shiba Inu settles below the support at $0.0000055, it will gain additional downside momentum and head towards the support at $0.0000044.

On the upside, the previous support at $0.000008 will serve as the first resistance level for Shiba Inu. The next resistance level has emerged at $0.000009. In case Shiba Inu manages to settle above the resistance at $0.000009, it will head towards the major resistance level at $0.000010.

For a look at all of today’s economic events, check out our economic calendar.

ShibaSwap Adds Three New Trading Pairs Including ETH/USDT

ShibaSwap is the next big thing in decentralized exchanges (DEXs). Launched as part of the Shiba Inu ecosystem about a week ago, ShibaSwap gives meme-coin investors a chance to trade and stake multiple dog-themed cryptocurrencies. With the aim of being a 100-percent community-driven project, the DEX team has added several trading pairs to the mix, including:

  • ETH/USDT
  • LEASH/BONE
  • SHIB/BONE

DEX Mechanics

According to Shiba Inu developer Shytoshi Kusama on Twitter, who has more than 123K followers, the dev team and “other signers” decided on the new trading pairs based on analytics for the DEX. The team expects that these additions will:

  • Incentive the Shiba Inu ecosystem
  • Attract new users
  • Bolster liquidity for stablecoin USDT, which in turn will strengthen the DEX and pave the way for greater rewards.

ShibaSwap users will now be able to join staking pools for the pairs. So far, the LEASH/BONE pool is live. The team expects to have the other two pools up shortly.

When joining the LEASH/BONE pool or any other pool on ShibaSwap for that matter, users must deal with ETH fees considering the project is built on Ethereum. The BONE token’s use case is tied to governance, while LEASH is meant to be a store-of-value asset in the Shiba Inu ecosystem and support the DEX.

SHIB Price

The development did little for the Shiba Inu price, which is up fractionally in the last 24-hour period and down by a double-digit percentage in the last 10 days. Nonetheless, for a relatively new meme coin, Shiba Inu is not too shabby considering it has muscled its way onto the top 31 cryptocurrencies with a USD 3 billion-plus market cap.

Dogecoin Killer Claims

Shiba Inu was created on the coattails of Dogecoin but has yet to achieve the popularity of the larger meme-coin project. As the seventh biggest cryptocurrency, Dogecoin boasts a market cap of close to USD 28 billion and has become a favorite cryptocurrency of billionaire Elon Musk.

While Shiba Inu fancies itself as the “Dogecoin Killer,” the DOGE community begs to differ. They are anxiously awaiting the project’s next release, Dogecoin Core 1.21, which is expected to introduce a lower fee model.

Musk recently revealed that he was “working with Doge devs to improve system transaction efficiency,” saying that it was “potentially promising.”

Shiba Inu Strengthens Use Cases, Coin Rises 6%

Meme coin Shiba Inu is apparently looking to secure its own future rather than depending on the whims of the market. The project has a couple of catalysts that are helping to catapult the SHIB price higher by more than 6% in the last 24-hour period. These involve the launch of its much-anticipated decentralized exchange (DEX), ShibaSwap, and the integration of the SHIB token on a retail platform where consumers shop.

ShibaSwap DEX

ShibaSwap, a DEX on which several dog-related coins are set to be traded, is now live. Investors have been counting down the days for this event as the Shiba Inu team went through audits to test the mettle of the platform. The two coins that appear to be fueling the DEX are the native SHIB token as well as one called LEASH. According to the project’s website, a new token called BONE will be available soon. There are also non-fungible tokens (NFTs) in ShibaSwap’s future.

Source: ShibaSwap

After connecting with the relevant wallet, such as MetaMask, WalletConnect or Coinbase Wallet, there are a number of ways in which users can or will be able to engage with the ShibaSwap DEX. These include:

  • Dig — Provide liquidity and earn BONE.
  • Fetch — Migrate tokens to earn BONE.
  • Bury — Stake tokens to generate returns.
  • Swap — Swap current tokens for different ones.
  • Bonefolio — Check your holdings.
  • Woof — Stake SSLP and claim returns.

Crypto Retail Push

Shiba Inu has also been integrated into the Shopping.io platform, which already supports more than 100 other cryptocurrencies as well. Now holders of the SHIB token can use their crypto to buy things on the Shopping.io platform at places such as e-commerce giant Amazon, eBay and big-box retailer Walmart. This development strengthens Shiba Inu’s use case as a payment method.

The Shiba Inu team appears set on moving this project forward as the roadmap plays out. In addition, SHIB investors appear loyal and celebrate every milestone. While it is unclear whether SHIB will be the next Binance Coin, or whether or not it even wants to be, its use cases are strengthening, which could create more demand for the Shiba token and lead to more of a runway for gains.

Shiba Inu Tests Support At $0.000008

Shiba Inu Remains Under Pressure

Shiba Inu is currently trying to settle below the support level at $0.000008 as the crypto market remains under pressure.

Bitcoin has recently failed to settle above the resistance at $35,000 and made several attempts to get to the test of the support at $32,000. In case Bitcoin manages to settle below this level, it will gain additional downside momentum and move towards the support at $30,000 which will be bearish for Shiba Inu and the whole crypto market.

Meanwhile, Dogecoin managed to settle below the support at $0.25 and is moving lower, which is bearish for Shiba Inu.

I’d note that Shiba Inu has recently made an attempt to get to the test of the resistance at $0.000010 but lost momentum because of the general bearish sentiment in crypto markets. At this point, it looks that Shiba Inu will need additional bullish catalysts in order to get to the test of the resistance at $0.000010.

Technical Analysis

shiba inu july 2 2021

Shiba Inu failed to get to the test of the resistance at $0.000010 and pulled back towards the support at $0.000008. RSI is in the moderate territory, and there is plenty of room to gain additional downside momentum in case bearish catalysts emerge.

If Shiba Inu declines below the support at $0.000008, it will move towards the next support level at $0.000007. A successful test of this level will open the way to the test of the next support at $0.0000063. If Shiba Inu manages to settle below $0.0000063, it will head towards June lows at $0.0000055.

On the upside, Shiba Inu needs to stay above $0.000008 to have a chance to gain upside momentum in the near term. The next resistance level for Shiba Inu is located at $0.000010. If Shiba Inu manages to settle above this level, it will head towards the resistance at $0.000012. A move above this level will push Shiba Inu towards the resistance at $0.00001350.

For a look at all of today’s economic events, check out our economic calendar.

Shiba Inu Heads Towards Resistance At $0.000010

Shiba Inu Continues To Move Higher

Shiba Inu managed to get above the resistance at $0.000008 and continues to move higher while Bitcoin is testing the resistance at $35,000.

Bitcoin is currently trying to settle above the resistance which is located near the 20 EMA at $35,000. This resistance level has already been tested several times in recent trading sessions and proved its strength. In case Bitcoin manages to settle above $35,000, it will gain upside momentum and head towards the resistance at $38,000 which will be bullish for the whole crypto market.

I’d note that Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, faced resistance near 48% and declined below the 47% level, indicating that traders are buying more altcoins. This is bullish for Shiba Inu.

Dogecoin failed to settle below the $0.25 level which is another bullish development for Shiba Inu.

Technical Analysis

shiba inu june 29 2021

Shiba Inu did not face serious resistance at $0.000008 and continues its upside move. RSI has moved closer to the overbought territory after Shiba Inu moved from $0.0000056 to 0.0000086, but there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

The next resistance level for Shiba Inu is located at $0.000010. No important resistance level were formed between $0.000008 and $0.000010 so Shiba Inu has a good chance to get to the test of the resistance at $0.000010 in the near term.

In case Shiba Inu settles above $0.000010, it will move towards the next resistance at $0.000012. A successful test of this level will open the way to the test of the resistance at $0.00001350.

On the support side, the previous resistance at $0.000008 will serve as the first support level for Shiba Inu. In case Shiba Inu declines below this level, it will head towards the next support at $0.000007. A move below this level will push Shiba Inu towards the support at $0.0000063.

For a look at all of today’s economic events, check out our economic calendar.