Will New Listing Announcement Push SHIB to above $0.00001
The demand for SHIB at the $0.0000085 mark is high, indicating potential price growth. If there is a breakout from the overhead trendline, it could revive recovery momentum in the market. The 24-hour trading volume for Shiba Inu is currently at $73 million, but with a 9.5% loss.
Over the past six weeks, the Shiba Inu price has experienced a significant decline, but it has started to stabilize above $0.000085. This level aligns with the 61.8% Fibonacci retracement and an ascending support trendline, making it an attractive zone for buyers.
Moreover, Uphold’s decision to relist SHIB and other tokens is expected to attract new investors, potentially leading to a bullish reversal.
Alert for our Topper users in Canada. The following tokens have been relisted on Topper and are available via our widget or with any of our Topper partners.
$ADA, $CSPR, $DOGE, $HBAR, $INJ, $KAS, $SHIB, $XDC and $XLM
Head to Topper pic.twitter.com/GXbboobvB7
— Uphold (@UpholdInc) January 25, 2024
If SHIB can break above its current resistance trendline, it would confirm a recovery trend. This breakout could lead to a potential rise in price targets, such as $0.0000105 and $0.000012.
Will Shiba Inu Price Plunge to $0.0000066?
If the resistance trendlines continue to hold, SHIB may experience another breakdown. Losing the current support region could intensify selling pressure and potentially drop the price to $0.0000076 or even $0.0000066.
- Bollinger Band: A downtick in the lower boundary of the Bollinger Band indicator indicates aggressive selling momentum.
- Moving Average Convergence Divergence: A potential bullish crossover between MACD and the signal line suggests that buyers are fighting back at a crucial support level of $0.0000085.
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Hot Take: Will SHIB Regain $0.00001?
In the recent crypto market uptick, SHIB, the second-largest meme cryptocurrency, has maintained stability above $0.0000085, coinciding with the 61.8% Fibonacci level. This combined support has driven an 8.5% rise in its price over the last six days, reaching $0.00000915. Will the renewed buying pressure in the market assist Shiba Inu in regaining $0.00001?
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