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.

Open an account with eToro

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.

Shiba Inu Tests Resistance At $0.000008

Shiba Inu Gains Ground At The Start Of The Week

Shiba Inu managed to settle above the resistance at $0.000007 and is trying to settle above the next resistance level at $0.000008 while Bitcoin is testing the resistance at the 20 EMA at $35,300.

In case Bitcoin manages to settle above the 20 EMA, it will gain additional upside momentum and head towards the next resistance at $38,000 which will be bullish for other cryptocurrencies, including Shiba Inu.

Ethereum has recently managed to get back above the $2,000 level and is moving towards the 2,100 level. XRP is flat near $0.65 while Dogecoin, which often has a material impact on Shiba Inu dynamics, has pulled back towards $0.26.

In general, the crypto market mood is positive at the start of this week, and it looks that Shiba Inu has decent chances to gain additional upside momentum in case it manages to settle above the resistance at $0.000008.

Technical Analysis

shiba inu june 28 2021

Shiba Inu is currently testing the nearest resistance level which is located at $0.000008. RSI is 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 manages to settle above the resistance at $0.000008, it will head towards the next resistance level at $0.000010. No important levels were formed between $0.000008 and $0.000010 so this move may be fast.

A successful test of the resistance at $0.000010 will push Shiba Inu towards the resistance at $0.000012. If Shiba Inu gets above this level, it will move towards the resistance at $0.00001350.

On the support side, the previous resistance at $0.000007 will serve as the first support level for Shiba Inu. If Shiba Inu manages to settle below this level, it will move towards the support at $0.0000063. A move below $0.0000063 will open the way to the test of the next support level which is located at $0.0000055.

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

Elon Musk Toys With Shiba Inu Fans and Bitcoin Maximalists

Elon Musk is toying with the cryptocurrency community once again. This time, the Tesla chief is sharing the love with Shiba Inu fans while poking the bitcoin crowd. Cryptocurrency investors know the influence that Musk seemingly has on the direction of the market, and many are trying to get in his good graces.

The meme token has managed to do just that, as evidenced by one of Musk’s latest tweets. He randomly proclaimed that his “Shiba Inu will be named Floki,” seemingly in reference to the shipbuilder character on the series Vikings. The reference seems to suggest that the Shiba Inu team is building something Musk supports. The tweet amassed nearly 17K replies and 18K retweets.

Love/Hate Relationship

Musk flexed his muscle in the cryptocurrency market in which he has a love/hate relationship. The SHIB token is climbing higher by almost 9% and climbing while the broader cryptocurrency market remains in the doldrums. Crypto investors either cheered Musk for the price gains or blamed him for manipulating the markets, and a variety in between.

Source: TradingView

Poking the Bear

While Musk is winning friends in meme coin circles, he is stirring things up among bitcoin investors, especially those who are all in on the leading cryptocurrency, known as maximalists. Musk, whose gripe against bitcoin is the energy consumption involved with mining, poked the bear, asking, “How many Bitcoin maxis does it take to screw in a lightbulb?”

His clever tweet attracted a slew of responses, including the bitcoin bull himself, Michael Saylor, who cleverly replied, “If you give us 10 minutes, maybe we can hash out the answer.” The 10-minute nod is in reference to the time it takes for a block to be verified on the Bitcoin blockchain and for miners to be rewarded.

Source: Twitter

In a conversation that also played out on Twitter, billionaires Elon Musk and Jack Dorsey, a bitcoin bull, have agreed to have a “talk” on bitcoin that will seemingly be broadcast at a July event.

Crypto Rivalries

Rivalries between the cryptocurrency communities are nothing new, but they tend to heat up with prices are under pressure as investors become on edge. In bitcoin’s case, its value has been nearly slashed in half since its peak of more than USD 64K. Bitcoin bulls see it as a buying opportunity.

The Shiba Inu price has been under pressure of late as well. SHIB investors have tried to no avail to bring attention and liquidity to the token by scoring listing on major exchanges, just as their larger rival Dogecoin has already managed to do. Perhaps Musk can put in a good word.

Update: Shiba Inu Investors Cross Fingers on Trading Platform Speculation

(Originally posted 6/20/21 at 8 a.m. EST)

Shiba Inu investors are crossing their fingers and paws in hopes that they will get some good news today that could bolster the languishing price of the meme coin.

Online brokerage eToro announced it is adding a wave of new crypto assets to its platform, which has set off a frenzy of speculation on social media. Chief among the speculation has been the idea that Shiba Inu coin will be on the list when it is revealed today. SHIB is trading in the red with the broader cryptocurrency market today and was down by a double-digit percentage, though it has since trimmed its losses to 7% in the last 24-hour period.

To be clear, eToro has not weighed in on the specific crypto assets in the pipeline, only to say that it is “adding a new batch of coins on Monday.” The company also asked its followers for guesses, in response to which they received more than 7,000 replies.  The Shiba Inu crowd took that as an invitation, perhaps hoping that their expectation will become a self-fulfilling prophecy.

Social Media Speculation

Getting added to a trading platform like eToro would add to the liquidity of the SHIB coin and also raise its profile. In addition to crypto assets, eToro also supports stocks, which widens its reach.

eToro already supports roughly two dozen crypto assets, including meme coin Dogecoin, whose mascot Doge served as the inspiration for the Shiba Inu cryptocurrency. The two meme coins have since become rivals, as Shiba Inu fancies itself as the “Doge Killer.” When eToro announced its support for DOGE, it said to investors, “You barked and we heard you.”

To the Moon

Shiba Inu’s larger rival Dogecoin is also under pressure today. Billionaire tech entrepreneur Mark Cuban is a fan of DOGE, which is accepted as a payment method for the NBA team he owns, the Dallas Mavericks. Cuban previously speculated that the Dogecoin price will “definitely hit USD 1” if the team could sell 6,556,000,000 DOGE in team merchandise.

DOGE is currently trading at about USD 0.22. He reportedly believes DOGE can be a good investment but urges investors to “know why” they’re investing rather than just “getting lost in the hype.”

Not to be outdone, Shiba Inu investors similarly have an ambitious target of USD 1 on their favorite cryptocurrency, which is currently trading for less than a penny. They are further speculating that SHIB will eventually make its way onto popular cryptocurrency exchange Coinbase, though at this point that is all it is — pure speculation. And all the speculating in the world is doing nothing to lift the SHIB price out of the doldrums today.

SHIB Let Down

As fate would have it, the eToro team decided on three other crypto assets to add to their platform, leaving Shiba Inu investors kicking their heels — for now. The crypto assets they are adding include the following altcoins:

  • Algorand (ALGO)
  • Polygon (MATIC)
  • Basic Attention Token (BAT)
Source: eToro

Not surprisingly, the Shiba Inu community was disappointed. Some threatened to unfollow the account on Twitter while others went so far as to say they would leave the platform altogether. Others still took a more philosophical approach, splitting hairs and saying that eToro promised to list “coins” and not “tokens,” while Shiba Inu falls into the latter camp.

Either way, investors could always head over to the Voyager app, which recently added SHIB to its up-and-coming crypto trading platform.

(Updated: 6/22/21 at 7 a.m. EST)

Shiba Inu Remains Under Pressure

Shiba Inu Continues To Pull Back After The Recent Upside Move

Shiba Inu moved back below $0.000008 and is heading towards the support at $0.000007 while the crypto market remains under pressure after Bitcoin’s failure to settle above the key resistance level at $40,000.

Bitcoin has recently made an attempt to settle above the key resistance at $40,000 but lost momentum and pulled back towards the support at $37,000. This move put pressure on other cryptocurrencies. Ethereum declined towards the support level at $2,300.

Dogecoin, which has a material impact on Shiba Inu dynamics, moved to the support level at $0.30. Dogecoin’s RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum. If Dogecoin settles below $0.30, it will head towards the support at $0.28 which will be bearish for Shiba Inu.

Technical Analysis

shiba inu june 18 2021

Shiba Inu has recently managed to settle below the support at $0.000008 and is trying to get to the test of the next support level at $0.000007. In case Shiba Inu manages to settle below this level, it will head towards the support at $0.0000063. A move below $0.0000063 will open the way to the test of the support at $0.0000055.

On the upside, Shiba Inu needs to get back above $0.000008 to have a chance to gain upside momentum in the near term. The next resistance level is located at $0.000010. This resistance level has already been tested several times in June and proved its strength.

In case Shiba Inu settles above $0.000010, it will gain additional upside momentum and head towards the next resistance which is located at $0.000012.

From a big picture point of view, the recent attempt to gain upside momentum faced significant resistance at $0.000010, which is a worrisome development for the bulls.  The technical picture for Dogecoin does not look good, which is another bearish factor for Shiba Inu. At this point, it looks that Shiba Inu will need additional upside catalysts to get back to the upside mode.

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

Shiba Inu Pulls Back After Strong Upside Move

Shiba Inu Loses Ground As Dogecoin Declines

Shiba Inu pulled back below $0.000009 after an unsuccessful attempt to settle above the major resistance level at $0.000010.

Yesterday, Shiba Inu managed to settle above the resistance at $0.000007 and developed significant upside momentum. Today, Shiba Inu is moving lower while Bitcoin continues its attempts to settle above the key resistance level at $40,000. If Bitcoin manages to settle above this level, other cryptocurrencies will likely get additional support, which will be bullish for Shiba Inu.

Meanwhile, Dogecoin is losing ground after it failed to settle above the 50 EMA at $0.3420. Currently, Dogecoin is trying to settle below $0.32. I’d note that Dogecoin’s trading volume has decreased in recent trading sessions, which is a worrisome development for Dogecoin bulls. If Dogecoin moves towards recent lows near $0.30, Shiba Inu may find itself under more pressure.

Technical Analysis

shiba inu june 16 2021

Shiba Inu has recently tried to get above the resistance at $0.000010 but failed to develop sufficient upside momentum and pulled back. RSI remains in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge.

If Shiba Inu gets above the resistance at $0.000010, it will head towards the next resistance level which is located at $0.000012. A move above this level will open the way to the test of the next resistance level at $0.0000135.

On the support side, the nearest support level for Shiba Inu is located at $0.000008. No important levels were formed between $0.000008 and $0.000010 so Shiba Inu may quickly get to the test of the support at $0.000008 if the crypto market find itself under more pressure.

A move below the support at $0.000008 will push Shiba Inu towards the next support at $0.000007. In case Shiba Inu declines below this level, it will head towards the support at $0.0000063. A move below this level will open the way to the test of the support at $0.0000055.

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

Meme Tokens DOGE and SHIB in Spotlight as Investors Hunt Catalysts

Crypto meme coins are trading mixed as investors look to spark a rally that will have legs. Dogecoin and Shiba Inu, the latter of which was created as a rival coin to its larger peer, are giving investors something to talk about rather than just discussing buying the dip. DOGE is down nearly 2% in the last 24 hours while SHIB is holding onto 3% gains.

Technical analyst Eric Thies, who has more than 39K followers on Twitter, gave Dogecoin investors something to cheer. Thies stated and illustrated that there is a hidden bullish divergence on DOGE one-week chart. He added that while this trend is “substantial,” it might not play out overnight. Instead, it could be another two weeks before the bullish sentiment takes hold.

Sheriff of Crypto Land

Fellow meme cryptocurrency Shiba Inu coin, which calls itself the ‘Doge Killer,’ has gained 3% in the last 24 hours. SHIB has been giving up some ground in June compared to May, but there are a couple of catalysts in the pipeline that investors are banking on.

A petition to have Shiba Inu coin listed on mainstream investment app Robinhood is growing. The organizers have attracted more than 140,300 signatures, which is nearing their current goal of 150,000, If the petition reaches that level, it will become one of the most popular on the Change.org site, according to the Shiba Inu petition, which was started by user Tristan Luke.

It isn’t unusual for investors to ask on social media platforms like Reddit how they can buy Shiba Inu. For now, the coin is listed on the leading crypto trading platform Binance and a couple of others. But the Shiba Inu community would like to make it even easier for retail investors to add SHIB to their portfolio using the commission-free Robinhood trading app.

Separately, trading platform Capital.com recently added a Shiba Inu CFD asset on its platform. Shiba Inu has a circulating supply of a whopping 394.7 trillion and there is also a petition to burn some of the token supply.

Forest for the TREES Token

Now that Tesla CEO Elon Musk has thrust sustainability into the cryptocurrency spotlight, don’t be surprised to see more environmentally friendly blockchain projects coming on the scene. One such project is called SafeTrees, the token for which is TREES. The TREES token is designed to support environmental projects.

While Shiba Inu is building a decentralized exchange (DEX), it is unclear if TREES will be trading on the platform, at least not yet. For now, TREES tokens can be swapped on PancakeSwap and purchased on Binance Smart Chain.

 

Shiba Inu Tests Key Resistance At $0.000007

Shiba Inu Gains Ground As Bitcoin Tests Resistance At $40,000

Shiba Inu is currently trying to settle back above the key resistance level at $0.000007 while Bitcoin is testing the major resistance at $40,000, which is bullish for crypto markets.

Other cryptocurrencies are also moving higher. Ethereum managed to settle above $2,500 and is testing the resistance at the 50 EMA at $2,620. Meanwhile, Dogecoin is slowly moving towards the resistance at its 50 EMA at $0.3435.

The lack of momentum in Dogecoin has put some pressure on Shiba Inu in recent weeks. However, it looks that Dogecoin managed to find material support near $0.30 and may try to develop additional upside momentum which will be bullish for Shiba Inu.

Technical Analysis

shiba inu june 15 2021

Shiba Inu has recently received support at $0.0000055 and managed to gain upside momentum. Currently, Shiba Inu is trying to settle above the major resistance level at $0.000007 which has previously served as support. A move above this level will show that Shiba Inu managed to recover from the recent sell-off and is ready to develop additional upside momentum.

In this case, Shiba Inu will move towards the next resistance level at $0.000008.  A successful test of this resistance level will open the way to the test of the resistance which is located at $0.000010. In case Shiba Inu manages to settle above the resistance at $0.000010, it will head towards the next resistance level at $0.000012.

On the support side, Shiba Inu needs to stay below $0.000007 to have a chance to develop downside momentum in the near term. The next support level for Shiba Inu is located at $0.0000063. If Shiba Inu declines below this level, it will head towards the next support at the recent lows at $0.0000055. A successful test of the support at $0.0000055 will open the way to the test of the support at $0.0000044. There are no important levels between $0.0000044 and $0.0000055 so this move may be fast.

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

Shiba Inu Drops Below Key Support Level

Shiba Inu Moves Lower As Dogecoin Remains Under Pressure

Shiba Inu declined below the key support level at $0.000007 and continued to move lower while the crypto market was under some pressure ahead of the weekend.

Bitcoin continues its attempts to settle above the resistance at $37,000, but it remains to be seen whether it will be able to develop sufficient upside momentum.

Dogecoin, which has a material impact on Shiba Inu, failed to settle above the 50 EMA at $0.3470 and made an attempt to settle below $0.3200. Dogecoin remains in a downside trend and its trading volume is declining, which is bearish for Shiba Inu.

I’d note that Bitcoin Dominance, which shows Bitcoin’s market capitalization as a percentage of the total crypto market capitalization, rallied in recent days, indicating that market’s interest in altcoins declined.

Technical Analysis

shiba inu june 11 2021

Shiba Inu managed to get below the major support level at $0.000007 and is moving towards the recent lows at $0.00000630. 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 settles below the support at $0.00000630, it will head towards the next support level at $0.00000440. No important levels were formed between the support at $0.00000440 and the resistance at $0.00000630 so this move may be fast. A successful test of the support level at $0.00000440 will push Shiba Inu towards the next support level at $0.00000340.

On the upside, Shiba Inu needs to get back above $0.000007 to have a chance to gain upside momentum in the near term. In case Shiba Inu gets above this level, it will head towards the next resistance which is located at $0.000008. A successful test of this level will push Shiba Inu towards the major resistance level at $0.000010.

From a big picture point of view, the technical picture for Shiba Inu looks bearish, and Shiba Inu needs additional positive catalysts to break the current downside trend.

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

Shiba Inu Failed To Settle Below The Key Support Level

Shiba Inu Video 09.06.21.

Support At $0.000007 Stays Strong

Shiba Inu has recently made an attempt to settle below the key support level at $0.000007 but failed to develop sufficient downside momentum and moved back above this level.

Shiba Inu found itself under material pressure in recent trading sessions as the crypto market moved lower. Bitcoin has recently tried to get to the test of the support at $30,000 which hurt sentiment across crypto markets.

Today, Bitcoin moved closer to the $35,000 level and other cryptocurrencies are also moving higher. Ethereum managed to get back above the $2,500 level while Dogecoin is trying to settle above $0.33.

The market sentiment will likely depend on Bitcoin which needs to settle above $35,000 to have a chance to develop additional upside momentum in the near term. If Bitcoin fails to settle above this level, it will likely move closer to $30,000 which will be bearish for the whole crypto market and may push Shiba Inu below the key support at $0.000007.

Technical Analysis

shiba inu june 9 2021

Shiba Inu tested the support at $0.000007 but failed to settle below this level. 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 declines below the support at $0.000007, it will move towards the next support level which has recently emerged at $0.0000063. A successful test of this level will push Shiba Inu towards the next support at $0.0000044. There are no important level between $0.0000044 and $0.0000063 so this move may be fast.

On the upside, Shiba Inu needs to stay above $0.000007 to have a chance to develop upside momentum in the near term. The next resistance level for Shiba Inu is located at $0.000008. In case Shiba Inu manages to settle above this level, it will head towards the key resistance level which is located at $0.000010.

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

Shiba Inu Price Dips as DEX Platform Nears Launch

Meme coin bulls could spot a buying opportunity in Shiba Inu today, the Ethereum-based cryptocurrency that was named after the mascot of rival asset Dogecoin. Today’s selling does not appear to be specific to Shiba Inu but rather indicative of the market sell-off, with the bitcoin price down about 10% at last check.

Shiba Inu has shed about 15% in the last 24-hour period. Today’s declines pale in comparison to the coin’s 10,000% run-up so far this year. There are several catalysts ahead in the burgeoning decentralized finance (DeFi) space that could make the dog-breed coin an attractive bet, including a new decentralized exchange (DEX) that is nearing launch. On social media channels, SHIB investors are urging one another to hold or buy more.

Source: TradingView

Shibaswap Is Ready…but in Testing Mode

Shiba Inu is appealing to users for a variety of reasons. It gives investors an opportunity to enhance their returns by participating in staking. In addition, it’s cheap and trades for just fractions of a penny. Even though you don’t have to buy an entire bitcoin, it can be intimidating to investors given its high price.

Plus Shiba Inu offers an opportunity to get in on the next hottest craze before it becomes a household name, this year’s gains notwithstanding.

Shiba Inu is currently available to trade on DEX Uniswap as well as centralized exchange Binance. Soon Shibaswap, a new DEX, will launch. SHIB will be the native cryptocurrency of the exchange, which says it will use the token as an incentive.

According to social media accounts, the Shibaswap platform is “ready,” but it continues to be battle-tested until the project, which is also being audited, receives the necessary “green lights.”

SHIB for Payments

Shiba Inu, which has a sky-high supply of 500 trillion, found its way onto the radar of cryptocurrency investors after the project gifted Ethereum co-founder Vitalik Buterin with half of the coin’s circulating supply. He burned 90% of the SHIB coins, worth more than USD 6 billion at the time, which basically means he removed them from the circulating supply.

Buterin, who was recently crowned as the youngest crypto billionaire in the world at 27 years old, graciously decided to direct the remaining proceeds toward charitable donations, including USD 1 billion toward a COVID-19 relief fund in India.

Most recently, the Future of Life Institute, a non-profit that looks to slash “global catastrophic risks from powerful technologies,” announced a USD 25 million grant program USD 25 million grant program that it said was “made possible by the generosity of cryptocurrency pioneer Vitalik Buterin and the Shiba Inu community.”

Shiba Inu’s profile for charitable giving and helping society has risen thanks to Buterin, bolstering its use case for payments, which could strengthen the demand for the coin. It is also following in the footsteps of its mentor Dogecoin, which has similarly been used for donations.

Shiba Inu Tries To Follow Dogecoin On The Way Up

Shiba Inu Video 03.06.21.

Shiba Inu Moves Higher As Dogecoin Rallies

Shiba Inu gained some upside momentum after Dogecoin managed to settle above the important resistance level at $0.3990 and continued its upside move.

The main catalyst for the recent Dogecoin strength was Coinbase’s decision to add Dogecoin to its professional trading platform Coinbase Pro. At this point, Dogecoin is not available on Coinbase’s retail trading platform, but the market expects that it would be added to this platform in the upcoming weeks.

Increased access to Dogecoin is a welcome development for Dogecoin bulls, so it’s not surprising to see that Dogecoin managed to settle above the resistance at $0.3990 and tested the resistance at $0.44.

For Shiba Inu, the recent Dogecoin strength presents an opportunity to gain additional upside momentum in a “sympathy trade”. Shiba Inu’s current market capitalization is about $3.9 billion compared to Dogecoin’s $55.5 billion, and some traders may be willing to bet that Shiba Inu will start to close the gap in case it becomes more popular.

Technical Analysis

shiba inu june 3 2021

Shiba Inu is currently trying to settle above the nearest resistance level at $0.000010. In case this attempt is successful, it will head towards the next resistance at $0.000012. A move above this level will push Shiba Inu towards the resistance which is located at $0.00001350.

On the support side, the nearest support level for Shiba Inu is located at $0.000008. In case Shiba Inu manages to get below this level, it will move towards the next support which is located near the lows of the previous massive pullback at $0.000007.

From a big picture point of view, Shiba Inu has formed a double bottom pattern and has material chances to gain additional upside momentum. However, traders should note that Shiba Inu will likely remain dependent on Dogecoin’s dynamics as it is still views as “another cryptocurrency with an image of a cute dog”.

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