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.
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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?
