Shiba Inu Breaks 5 Week Trend As Bulls Begin To Gain Strength

The last month throughout the crypto space has been a rough one for many. On average, the crypto market fell nearly -35% since the beginning of June. Meme coins such as Shiba Inu were surely not immune to this drop. SHIB price fell nearly -50% but has bounced tremendously since. Many signs show SHIB may continue a larger revival back to May levels.

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After the second drop to $0.00000580 on June 22nd, Shiba Inu quickly revived 20% in the following days. This sudden bounce had formed a bullish double bottom. Since the low, SHIB has revived nearly 70% to $0.00000959. The revival seen the last few days has allowed SHIB to break a 5-week downtrend line. This Is a huge indication the trend may have changed to short term bullish for Shiba Inu.

SHIB Price Analysis: 4 Hour Chart

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Major resistance for SHIB lands at $0.00000959- $0.00000987. Once this area can break and hold, SHIB will see a large revival above $0.00001. Until then, SHIB price will find support at $0.00000871 and $0.00000819. Anything below these marks will turn the SHIB price short term bearish again. The 15MA has held the price for nearly a week and a half, so a break below this may trigger another sell off below the 5 week trend line.

While looking at the Stochastic RSI, we can see that it has refused to stay in the overbought territory which shows a slight bearish bias. A break below the 50 value may signal a short term sell off. The regular RSI has held an uptrend for nearly 10 days, if this trend breaks SHIB will see a price drop to its next support.

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SHIB Intraday Levels
Spot rate: $0.00000900
Trend: Bullish
Volatility: High
Support: $0.00000871
Resistance: $0.00000959

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SHIB Polygon & Bitcoin – American Wrap 29 June

SHIB Price Prediction: Shiba Inu ready to pop to $0.00001 by the end of this week

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Shiba Inu is set to jump higher in a technical push towards $0.00001. Thanks to Bitcoin, SHIB is in the slipstream of the positive news in the major cryptocurrencies. Overall risk-on sentiment in the markets, with specifically Nasdaq higher, helps to lift SHIB.

Shiba Inu is set for a run higher towards $0.0000093 as the first point of resistance in the rally. After that, the $0.00001 level is in sight.

Why MATIC could enter a new bear market

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MATIC price had been a relative strength leader in the cryptocurrency complex. Still, lately, the failure to hold key technical levels has raised the probability of a weaker price in the medium term. The overhang of key points of resistance coupled with a bearish pattern suggests that Polygon investors will not be rewarded with better profit outcomes

Uniswap Price Analysis: UNI strengthens, but still not time to fasten the seatbelts
Uniswap price has climbed almost 40% from the June 22 low and seized the opportunity of an oversold reading on the twelve-hour

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Relative Strength Index (RSI) to slingshot above a longstanding trend line beginning on May 14. If UNI can close above the trend line on a daily basis, there is a potential for the altcoin to charge higher, but there is still more to prove.

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Shiba Inu ready to pop to $0.00001 by the end of this week

Shiba Inu is set to jump higher in a technical push towards $0.00001.
Thanks to Bitcoin, SHIB is in the slipstream of the positive news in the major cryptocurrencies.
Overall risk-on sentiment in the markets, with specifically Nasdaq higher, helps to lift SHIB.
Shiba Inu is set for a run higher towards $0.0000093 as the first point of resistance in the rally. After that, the $0.00001 level is in sight.

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SHIB is surfing on the favorable tailwind of the Nasdaq and Bitcoin
Shiba Inu is ready to jump higher. Pure technical, SHIB has the ascending trendline that has pushed SHIB higher. SHIB surpassed the double top at $0.0000085 to the upside. That level is now turning into support and will keep prices elevated above this price range of $0.0000085.

To the upside, the first potential cap lies at $0.0000093 with the double top from June 16th and 17th. Expect SHIB to pause or hover around that area for a few hours before moving higher and SHIB to make the jump to $0.00001.

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On the technical front, Shiba Inu is set for a play higher. However, the overall sentiment is helping as well. Yesterday we had Nasdaq breaking all-time highs, as Bitcoin continues on a consecutive winning streak. This winning streak could attract back investors and speculators to the crypto space and makes Shiba Inu an exciting token to take part in.

SHIB 4hr Chart

SHIB/USD 4 hour chart

The double triangle formation to the upside in Shiba Inu is ready to jump higher to $0.0000093 and next $0.00001. Not only in technical analysis but also the sentiment in the markets right now has lifted SHIB to the upside. Get ready for the launch.

สล็อตออนไลน์

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.

jumboslot

Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

SHIB price up over 18 per cent in last 24 hrs

Shiba Inu coin recently saw a massive spike over the last few days because Tesla founder Elon Musk named his dog Floki.

SpaceX founder Elon Musk recently tweeted about his dog, saying, “My Shiba Inu will be named Floki.”

According to media reports, it led to a rise in the Shiba Inu coin market, as single Shib coins surged by 25 per cent in the hours afterwards, leading to a six-week high for the coin.

Shiba Inu (SHIB) price today is $0.000009345 USD with market cap of $3,622,184,009 and trading volume of $813,332,323 USD. SHIBA INU is up 18.55 per cent in the last 24 hours.

The current CoinMarketCap ranking is #28, with a live market cap of $3,068,741,399 USD. It has a circulating supply of 394,796,000,000,000 SHIB coins and the max supply is not available.

Musk has been an avid support of cryptocurrency. Recently, he has been advocating the Dogecoin cryptocurrency.

Ethereum founder Vitalik Buterin announced that he has destroyed trillions of SHIB coins. He burned approximately 420 trillion worth of SHIB coins. This translates to about $6 billion worth of coins. According to Buterin, this was about 90% of his entire portfolio of SHIB coins. The creator of SHIB sent the coins to Buterin in a bid to promote the coin.

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Sending almost half of the entire circulating supply of SHIB coins to the Ethereum co-founder. The coins were sent to a dead wallet. Coins in dead wallets can never be retrieved.

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Related Reading | Every Doge Has Its Day: Dogecoin Founder Buys Back Into DOGE

Buterin attached a note to the transaction explaining the reason behind it. Impressed by the generosity of the dog token communities, the CEO burned the coins to support it. And he was doing this as a way to support the people who were trying to make the world a better place.

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He intended to burn 90% of the coins and give the remaining 10% to a charity. He has not yet revealed which charity this will be.

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Before the burn, Buterin had gifted 50 trillion SHIB coins to an Indian COVID relief fund.

India had seen increased instances of COVID cases in the country. With dead tolls rising daily.

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SHIB coin price chart from TradingView.com
SHIB price surged after Buterin burns coins | Source: SHIBUSD on TradingView.com
Buterin pointed out that he would have had to move the coins eventually for safety. And that he did not want any future transactions to be interpreted as an action. Hence, sending the coins to a dead wallet was the best course of action for right now. The founder plans to donate the remaining 10% to charity.

The Rise Of SHIB
SHIB was reportedly created to be the “DOGE killer.” The coin which was created a little over a year ago has seen increasing popularity. Following the rise in popularity

of Dogecoin.

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Shiba Inu, or SHIB, is a decentralized token. The token runs on the Ethereum blockchain. It is one of the many dog meme coins that are currently on the market. Created for the dog breed Shiba Inu. The Dogecoin meme is the same dog breed as SHIB.

Related Reading | Old Doge, New Tricks: Is This Still The Year Of The Doge?

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SHIB coins were nearly worthless not long ago. But when it was announced that the coin would be listed on trading platforms, the price soared. Listings on OKEx and Binance saw the coin reach daily trading volumes of $500 million.

Following the news of Buterin burning his tokens, the price went up from $0.00000722 to $0.00000985. The market cap of SHIB currently sits at $4.49 billion. While a fully diluted market cap sits at $7.76 billion.

Ethereum Founder Burns Billions Worth Of Coins

Ethereum founder Vitalik Buterin announced that he has destroyed trillions of SHIB coins. He burned approximately 420 trillion worth of SHIB coins. This translates to about $6 billion worth of coins. According to Buterin, this was about 90% of his entire portfolio of SHIB coins. The creator of SHIB sent the coins to Buterin in a bid to promote the coin.

jumbo jili

Sending almost half of the entire circulating supply of SHIB coins to the Ethereum co-founder. The coins were sent to a dead wallet. Coins in dead wallets can never be retrieved.

Get 110 USDT Futures Bonus for FREE!

Related Reading | Every Doge Has Its Day: Dogecoin Founder Buys Back Into DOGE

Buterin attached a note to the transaction explaining the reason behind it. Impressed by the generosity of the dog token communities, the CEO burned the coins to support it. And he was doing this as a way to support the people who were trying to make the world a better place.

สล็อต

He intended to burn 90% of the coins and give the remaining 10% to a charity. He has not yet revealed which charity this will be.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Before the burn, Buterin had gifted 50 trillion SHIB coins to an Indian COVID relief fund.

India had seen increased instances of COVID cases in the country. With dead tolls rising daily.

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SHIB coin price chart from TradingView.com
SHIB price surged after Buterin burns coins | Source: SHIBUSD on TradingView.com
Buterin pointed out that he would have had to move the coins eventually for safety. And that he did not want any future transactions to be interpreted as an action. Hence, sending the coins to a dead wallet was the best course of action for right now. The founder plans to donate the remaining 10% to charity.

The Rise Of SHIB
SHIB was reportedly created to be the “DOGE killer.” The coin which was created a little over a year ago has seen increasing popularity. Following the rise in popularity

of Dogecoin.

jumboslot

Shiba Inu, or SHIB, is a decentralized token. The token runs on the Ethereum blockchain. It is one of the many dog meme coins that are currently on the market. Created for the dog breed Shiba Inu. The Dogecoin meme is the same dog breed as SHIB.

Related Reading | Old Doge, New Tricks: Is This Still The Year Of The Doge?

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SHIB coins were nearly worthless not long ago. But when it was announced that the coin would be listed on trading platforms, the price soared. Listings on OKEx and Binance saw the coin reach daily trading volumes of $500 million.

Following the news of Buterin burning his tokens, the price went up from $0.00000722 to $0.00000985. The market cap of SHIB currently sits at $4.49 billion. While a fully diluted market cap sits at $7.76 billion.

SHIB Price Pushes to $0.00000782 after 5.1% Gain – Where to Buy Shiba Inu

Shiba Inu seems to be gaining popularity, especially after being adopted by a lover of dog tokens, Elon Musk. In recent days, the gains of this token have been remarkable, and just like the majority of altcoins, it is trading in the green zone.

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Shiba Inu is trading at $0.00000782 on major exchanges at the time of writing after a 5.1% increase in value.

Shiba Inu Price Analysis
Shiba Inu Price Analysis 28 June
Source: TradingView
Shiba Inu is one of the tokens posting good returns, and it is one of the coins one should look out for. The dog token had traded at an all-time high of $0.00003477 before the May market crash after a 21,000% gain. However, just like other altcoins, the coin failed to hold after the crash and dropped to low levels.

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Buy Crypto Now
Shiba shows effort in trying to garner back support and rise to higher levels. The next resistance the token needs to break is $0.00001. If this resistance is broken, it will signal that the token is headed towards another bull rally. If this level creates an ideal entry position for investors, SHIB may hold that position, and bulls may make a rebound towards the May levels.

On the downside, if SHIB fails to hold and the coin breaks to even low levels of $0.000005, it might also create an entry position for new traders; hence we might see the token stabilizing at its current values. Nevertheless, SHIB needs to hold levels past the May lows to avoid any significant losses.

As mentioned, SHIB has received overwhelming support from the Tesla boss, Elon Musk, which created the rally to its current levels. If Musk has ditched DOGE for SHIB, the token is bound for incredible returns in the future, given that Musk helped put DOGE at its current level. An endorsement by Musk will mean massive profits for holders.

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Shiba Inu is also trying to gain a place on the global map to rally more demand. The crypto community is rallying for SHIB’s presence in the NASCAR race. The community is urging Voyager, a popular crypto firm, to endorse the SHIB logo in the race. Many cryptocurrencies and crypto firms have been exploring the sports arena as a means of promotion.

Where to Buy SHIB
For those who want to buy Shiba Inu, they can look at the following exchanges:

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eToro
eToro is a reputable exchange that gives investors a high sense of security and user-friendly features. Creating an exchange account on eToro is easy even for beginner traders. Moreover, the exchange is among the few that enables copy trading.

Coinbase
Coinbase recently added SHIB tokens to its list of tradable tokens. The exchange is also another leading exchange that offers many crypto trading pairs. It is supported in multiple jurisdictions and offers competitive trading fees.

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Most of the top 100 cryptocurrencies on CoinMarketCap are seeing double-digit gains as the bullish momentum in the market spills over the weekend. And with the anticipation of a $3 trillion stimulus package from the government, the crypto market may still go on a long bull ride.

But Bitcoin is gradually consolidating while many traders are flocking to altcoins in hope of better gains. As a result, most of the altcoins have risen beyond expectations.

Although there are worries about the huge Bitcoin inflows into South Korean Exchanges by Bitcoin whales, other factors are keeping investors optimistic. Fundamental factors such as decreasing supply and miner sentiment have kept investors feeling optimistic about the future price of Bitcoin.