- The RSI line shows a steady decline in its value
- The SHIB/BTC pair was trading at 0.0000000005995 BTC with a loss of 10.13%
- The 24 hr trading volume in SHIB is $338.4 Million
As mentioned in my previous article on Shiba Inu, the coin price was able to sustain above the $0.00002 and tried to continue it rally. However, the price couldn’t break the overhead resistance of $0.0000314 mark and by displaying a bearish inside-day candle it was pushed back to the bottom support level.
Concerning the EMA’s, The SHIB token displays a strong uptrend as its price is trading high above the crucial EMA’s 20, 50, and100.
The RSI (BULLISH) value is 63, indicating a strong bullish sentiment in this token. However, the RSI line value is declining at rapid pace concerning the coin’s price action.
SHIB Token Chart In The 4hr Time Frame
The SHIB token price has retraced back to the 0.382 FIB level, and indicted a decent demand pressure here with a long tail hammer candle. However, the chart is yet to show a proper follow candle to expect a price reversal. The current price of the SHIB token is $0.0000246, with an intraday loss of 9.7%.
The Super trend indicator suggests an uptrend in this lower time frame chart.
Shiba Inu close to 250000 signatures on its petition for listing on Robinhood
The meme-coin supporters have been signing a petition for asking the commission-free trading platform Robinhood to list the Shiba Inu on their platform. The petition was titled “ kindly request of Robinhood to list Shiba Inu coin”. By the press time, over 247,000 signature have been gathered and is steady charging towards the 300,000 mark.
Furthermore, the Ronbinhood is currently concentrating on different project: wallets where they can freely and safely move thier funds on-cahin The Robinhood has launched beta testing for these wallets, and has seen more than million of people have sign up for their waitlist.
Christine Hall, the firm’ chief operating officer, said that the firms want to make sure “that transferring crypto on Robinhood is safe, secure, and simple. Many people will be transacting on-chain for the first time and keeping your coins safe is our #1 priority.” and that why wallets launching it taking so much time.
Conclusion: From the technical perspective, the overall trend of the SHIB token is still bullish and in the big picture the chart shows a Cup and handle pattern in the daily time frame. however, the price is still trying to sustain above the $0.00002 mark and for the bullish pattern to work the price need to provide a decisive breakout from the $0.0000355 mark.
Support– $0.000025
Resistance– $0.0000276