Shiba Inu Investors Cross Fingers on Trading Platform Speculation

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.

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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.

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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.

We’re adding a new batch of coins on Monday. Drop your guesses in the replies.

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.

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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.”

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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)

Asian Wrap 21 June

Ethereum Price Prediction: ETH presents buy signal, targeting $2,500
Ethereum price was held by the $2,000 support level after a steep correction. As long as this demand barrier holds, ETH could rebound to $2,500. The Tom DeMark Sequential indicator adds credence to the bullish outlook.

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Shiba Inu price stagnant unless it breaks this crucial resistance barrier
Shiba Inu price continues consolidating within a descending parallel channel. The mem-coin is currently stuck within two critical price points. A candlestick close outside of the $0.0000086-$0.000005 range will determine where SHIB is heading next.

MATIC price primed for prompt recovery, Polygon bulls target $2.40
MATIC price seems bound for a bullish impulse. After dropping by more than 25% in the past five days, Polygon presents a buy signal. A spike in buying pressure could see this cryptocurrency rise to $1.45 or $1.60.

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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.

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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.

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.

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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.

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Shiba Inu price stagnant unless it breaks this crucial resistance barrier
Shiba Inu price continues consolidating within a descending parallel channel. The mem-coin is currently stuck within two critical price points. A candlestick close outside of the $0.0000086-$0.000005 range will determine where SHIB is heading next.

MATIC price primed for prompt recovery, Polygon bulls target $2.40
MATIC price seems bound for a bullish impulse. After dropping by more than 25% in the past five days, Polygon presents a buy signal. A spike in buying pressure could see this cryptocurrency rise to $1.45 or $1.60

Wrap 20 June

While Bitcoin did not make much recovery post the Jun 18 dip, some other altcoins struggled to do the same. XRP lost about 5.2% of its price as well as 5.3% of its market capitalization in the last 24 hours. SHIB made some major gains on June 16 thanks to the news of its Coinbase listing, before it was delayed.

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XRP:-

Source: XRP/USD – TradingView

Recovery has been slow for some coins, worse for some others like XRP. June 16 dip had already flipped support level into resistance and the early morning trade only dropped the coin further below. Trading at $0.757, XRP could be seen inching closer towards bedrock $0.697. Awesome Oscillator displayed dominating bearish momentum at the time of writing.

The purple indicator of Relative Strength Index (RSI) fell into the oversold zone earlier in the day. A small uptick at press time displayed the indicator rising out of the bearish territory in the coming hours. Parabolic SAR also indicated an active downtrend since the white dotted line appeared above the candlesticks.

For now, if XRP trades in green going forward, it could consolidate above $0.73 and prevent any further downfall.

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Cardano [ADA]:-

Source: ADA/USD – TradingView

Cardano continued to be volatile as it had been for the last 2 weeks grazing and bouncing off the resistance and support levels. ADA once again ricocheted off the $1.37 support level to trade at $1.43 at press time. MACD indicator displayed the blue indicator line and the red signal line moving closely in the bearish neutral zone.

A minor divergence could be observed on the Bollinger Bands with the price indicator weighing towards the lower band. The basis (middle red line) continued to act as resistance as it has been since June 17. Capital inflows pushed Chaikin Money Flow indicator closer to the 0 mark in the bearish neutral region.

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Based on the indicators, a correction phase could pull up ADA, however, critical support is placed at $1.31

Shiba Inu [ SHIB ]:-

Source: SHIB/USD – TradingView

Between June 16 & 18, SHIB fell by almost 22% and brought the coin back closer to its $0.00000659. AT the time of writing, the coin made some gains and reached up to trade at $0.00000770. SHIB will continue its movement consolidated under the $0.00001011 resistance level as it has since the end of May.

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While 50 SMA ( Simple Moving Averages) line [orange] acted bullish, being under the candlesticks, the 100 SMA (red) line was aligned to the price indicator. Squeeze Momentum Indicator displayed receding bullish pressure at press time. The Relative Strength Index (RSI) indicator was aligned exactly to the neutral line at 50.0

Since indicators do not present a clear direction, expect the coin to swing either way going forward.

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Aaryamann is a full-time journalist at AMBCrypto. He is a recent journalism graduate, currently investing his time in the crypto-space. He has a keen interest in DeFi, the ever-expanding possibilities of blockchain technology, as well as the political impact they would have.

Why Shiba Inu coin saw its value rise so much this week

The Shiba Inu cryptocurrency has risen recently because of a new announcement that will make it available to more potential investors.

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Shib coin rises after Coinbase lift
Coinbase announced Tuesday that it will add the Shiba Inu coin to Coinbase Pro beginning this week, which allows people to buy the meme-bases cryptocurrency which has been seen as a rival to Dogecoin, according to Bitcoin News.

“Coinbase added SHIB little more than a month after that coin’s creation, in marked contrast to its addition of Dogecoin, which seemed to take DOGE years,” according to CoinDesk.com.
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Why Shib coin might have reached its peak
Why Shib coin might have reached its peak
People were supposed to start trading their Shiba Inu tokens on Coinbase Pro beginning on Thursday. However, technical issues held people from trading immediately, according to Investor Place.

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“We are experiencing technical issues that will temporarily delay the launch of SHIB on Coinbase Pro,” the company said on Twitter. “At this time we are disabling deposits of SHIB; withdrawals are still available. We will provide an updated timeline for restoring deposits & enabling trading as soon as possible.”
What cryptos spiked because of Coinbase?
Shiba inu coin wasn’t the only cryptocurrency to spike. Other cryptos such as Chiliz and Keep Network spiked after being added to Coinbase, too, according to CoinDesk.com.

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Just a reminder — Coinbase Pro is different than Coinbase. They’re two different apps. However, Coinbase users can sign into their accounts on Coinbase Pro, according to Yahoo News.

Did Shiba Inu already peak?
There has been some speculation that the Shiba Inu coin has already reached its peak. Santiment, a cryptocurrency analytics firm, said the hype for the coin had died down a bit, which is why it hasn’t seen a huge rise in value recently.

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“When a coin appears in emerging trends list, especially in top 3, it’s often a sign of a price top. Because it indicates a sort of a peak social hype. Price can hardly sustain its rally without increasing hype (or social volume),” according to Santiment.
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Recovery has been slow for some coins, worse for some others like XRP. June 16 dip had already flipped support level into resistance and the early morning trade only dropped the coin further below. Trading at $0.757, XRP could be seen inching closer towards bedrock $0.697. Awesome Oscillator displayed dominating bearish momentum at the time of writing.

The purple indicator of Relative Strength Index (RSI) fell into the oversold zone earlier in the day. A small uptick at press time displayed the indicator rising out of the bearish territory in the coming hours. Parabolic SAR also indicated an active downtrend since the white dotted line appeared above the candlesticks.

For now, if XRP trades in green going forward, it could consolidate above $0.73 and prevent any further downfall.

Shiba Inu price stagnant unless it breaks this crucial resistance barrier

Shiba Inu price continues consolidating within a descending parallel channel.
The mem-coin is currently stuck within two critical price points.
A candlestick close outside of the $0.0000086-$0.000005 range will determine where SHIB is heading next.
Shiba Inu price has not provided a clear signal for the direction of its trend. Still, SHIB may present an opportunity to profit very soon.

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Shiba Inu stuck between support and resistance
Shiba Inu posted massive gains in early May, rising by a whopping 2,093%. The meme-coin went from trading at a low of $0.0000018 and surged to a new all-time high of nearly $0.000040 on May 10.

A wave of profit-taking hit SHIB after the peak, pushing its market value down by more than 86%. Although prices have stabilized after the sell-off, Shina Inu has entered a stagnation period.

SHIB has been contained within a descending parallel channel since May 19. Each time Shiba Inu price has risen to the channel’s upper boundary since then, a rejection occurs that pushes it to the lower edge. From this point, it tends to rebound.

If this price action repeats, the rebound from the middle support trendline might be significant enough to push Shiba Inu price to the channel’s upper boundary at $0.0000086 before it faces another rejection or finally breaks out.

SHIB/USDt 6-hour chart

SHIB/USDt 6-hour chart

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While a rejection from the $0.0000086 resistance level could lead to a downswing to $0.0000065, a break of this supply barrier may result in massive gains. By drawing a parallel trendline equal to the channel’s width, the consolidation pattern forecasts a 42% upside target.

If validated, Shiba Inu price might rise to $0.0000123 upon the $0.0000086 resistance level break.

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.

สล็อตออนไลน์

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.

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.

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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.