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The positive outlook is supported by the hidden divergence suggested by the MACD and the steadying RSI that is looking to rise above the equilibrium point. If the SHIB price rebounds above $0.000033, there is potential for it to reach $0.000037 and then $0.000040. The pair broke below a horizontal support line at $0.000031, with bears revisiting lows of $0.000027 before an upside above $0.000032. SHIB price is looking to rebound towards $0.000033 after facing massive selling pressure, as seen on the 15-minute chart of the SHIB/USD pair on crypto exchange FTX. SHIB/USD price on a 15-minute chart on FTX. However, things like $DOGE, $SHIB, #SafeMoon take away the spotlight from the decentralized future we're trying to build.Īnd 90% of the people will lose money on it. But after fueling the price action to highs of $0.00040, traders are likely to dump for profit.Ĭrypto analyst Michael Van de Poppe has cautioned that projects such as SHIBA INU can only “hurt” the market.Įveryone should do what they want to do, when they want to do that.
SHIB spiked largely due to the huge interest in the token (the reason Binance decided to list it). All 100 percent of the 1 quadrillion (1,000,000,000,000,000) tokens are already in circulation. According to Binance, SHIB was a fair launch, meaning no team tokens are held. The ERC-20 token is native to the ShibaSwap DEX protocol and is used to incentivise users. The token’s value has however declined slightly over the past 24 hours, with prices currently about 50 percent up on the day and 1,700 percent over the past week. The SHIB token had rallied a monstrous 2,000% over the past week, with most of the crazy buying coming after the coin got listed on the crypto exchange BinanceĭOGE-inspired SHIBA INU (SHIB) saw an uptake in the market to send its value vertical by nearly 2,000 percent in the past week.
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