Price Analysis

Shiba Inu Gains a Whopping 21%, SHIB Price to Hit $0.000010 Soon?

Written by: Anjali Belgaumkar

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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Aug 8, 2021

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Finally, Shiba Inu appears to be working in the bulls’ favour, having risen more than 21% in the last 24 hours and trading at $0.00000803. 

Shiba Inu, dubbed the “Dogecoin Killer,” dropped in tandem with the broader cryptocurrency market. In May, the Dogecoin Killer hit an all-time high before plunging to almost the same level since then. 

SHIB Price Analysis

Shiba Inu price were trading in a narrow range of $0.00000654 and $0.00000625. Shiba Inu (SHIB) is now on the climb, having recently broken over the $0.000008 resistance level.The meme coin hasn’t run into any serious resistance at $0.000008 and is still on the rise. 

Shiba Inu’s next level of resistance is $0.000010. There are no strong resistance levels between $0.000008 and $0.000010, therefore Shiba Inu has a good chance of breaking through the $0.000010 barrier in the near future.

If Shib settles above $0.000010, it will move towards the next resistance level at $0.000012. If this level is successfully tested, the $0.00001350 resistance level will be tested. 

Shiba Inu Updates and Fundamentals

Shiba Inu’s percentage of crypto social activity has also increased in recent days. Investors should predict a tremendous increase in buying pressure in the future, resulting in an exponential increase in Shiba Inu price.

On August 3, Coinbase, one of the most famous cryptocurrency exchanges in the United States, announced that Shiba Inus would be accepted into Coinbase Custody.

Although, as of today, Coinbase does not officially support the Shiba Inu. While the stakes are huge, it’s possible it’ll end up on Coinbase. As one of the most well-known trading platforms, Coinbase. This will promote trading because the price of Shiba Inu may surge suddenly.

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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