Price Analysis

Shiba Inu Price Analysis: SHIB Price Surges 9% While Major Altcoins Tumbles

The Doge Killer was supposed to start trading on Coinbase Pro on June 17, but it was postponed owing to technical challenges on the trader’s end. Shiba Inu supporters have also created a petition to persuade brokerage software Robinhood to list the Shiba Inu currency. It got 156,000 signatures as of Thursday.

SHIB hit all-time highs in May, but has since plummeted and remained there. According to Santiment, the reason Shiba Inu performed so well in May was because investors believed it would be the next Doge. Dogecoin has a significant influence on Shiba Inu.

Will Shiba Inu Price Rebound Soon?

Shiba Inu is surging, while Bitcoin is still attempting to break through the crucial resistance level of $40,000. Other cryptocurrencies will likely receive extra support if Bitcoin manages to settle above this level, which will be good for Shiba Inu.

In the last 24 hours, the coin has gained 9% of its value. Shiba Inu price recently attempted to break through resistance around $0.000010, but was unable to build enough upside momentum and retreated back. If Shiba Inu can break through the barrier at $0.000010, it will go on to the next resistance level at $0.000012. If the price rises over this level, the next resistance level of $0.0000135 will be tested.

On the support side, Shiba Inu’s nearest support level is $0.000008. Because no significant levels have formed between $0.000008 and $0.000010, Shiba Inu may be forced to test the $0.000008 support level if the crypto market continues to be under pressure. Shiba Inu will be pushed towards the next support at $0.000007 if it falls below the support at $0.000008. If Shiba Inu falls below this level, it will fall to the support level of $0.0000063.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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