Shiba Inu (SHIB) Coin Cryptocurrency Price Soars High as it Approaches Top 10 as Major Tokens Struggle

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Cryptocurrency coin price: Shiba Inu Approaching Top 10 as Major Tokens Struggle

Shiba Inu (SHIB), The Dogecoin, competitor, soared to a new all-time high Wednesday morning, capping the 680% gain over the past month for a meme coin launched in August 2020, according to Forbes.

The meme token, trading at $0.0000569 as of press time, got a boost from growing clamor for Robinhood to list it on its platform. More than 335,000 people have signed a Change.org petition.

Forbes reported that, according to data platform Messari, SHIB is now the 11th largest cryptocurrency with a market capitalization of $22.58 billion.

What is Shiba Inu coinbase cryptocurrency?

What is Shiba Inu coinbase cryptocurrency? The SHIB coin was created in August 2020, but little is known about its founder, Ryoshi. Ryoshi promotes the coin’s nickname “Dogecoin Killer”, claiming that the SHIB technology is more “community-centric” than the technology that uses Shiba Inu as its mascot. And Ryoshi has announced his insignificant value and could outperform Dogecoin in cryptocurrency trading.

Shiba Inu’s crypto price up to 777% in 30 days

Do you believe this is the Shiba Inu dog-theme cryptocurrency? This is true.

Yahoo Finance wrote that Twitter users blamed the booming market for the dog-theme cryptocurrency for the Coinbase outage, though Coinbase didn’t give a reason. on par with the biggest companies in the world, and in many cases even surpassing them. So, why is this dog theme digital currency soaring higher?

Chris Morris wrote for Fortune: “Cryptocurrency, long considered a joke, has surged 777% in the past 30 days and hit a new high on Wednesday amid speculation that Robinhood is considering an IPO. This has driven its market cap to very high levels.

Shiba Inu meme coin surpasses Doge by market cap as followers request Robinhood to list It

Shiba Inu (SHIB) coinbase cryptocurrency surpasses market capitalization as the price continues to rise. Investors demand Robinson’s listing

Forbes reported that Shiba Inu coin cryptocurrency was trading at $0.00006799 early Wednesday afternoon 27th October, up 43.3% in the last 24 hours and 141.5% in the past week, according to data from CoinGecko, giving it a market cap of $33.3 billion, the 9th most among cryptocurrencies.

Dogecoin, billionaire Elon Musk’s favourite cryptocurrency, was the 11th largest digital token with a $32.5 billion market capitalization, according to CoinGecko.

Elon Musk seemingly isn’t switching dogs in the race,  tweeted Sunday that he doesn’t hold Shibu Inu coin.

Meanwhile, Robinhood CEO Vlad Tenev said in a Q3 earnings call on Tuesday that for any new coins Robinhood adds, it is “going to be very careful.”

Cryptocurrency Market & Gains: “Extreme Greed” level highs not seen since early March.

In particular, the Crypto Fear and Greed Index, designed to reflect market sentiment, hit an ‘extreme greed’ high not seen since early March.

Although these indicators are not always accurate in predicting price movement, they can signal the market that corrections may be necessary, especially if investors are too greedy.

As the supply of stablecoins on exchanges is increasing, Jan Wuestenfeld, analyst of crypto analytics platform CryptoQuant, said that traders appeared to be getting out of their positions back into stablecoins, but the move could be “very short-term, and the money might quickly flow back in.

Shiba Inu (SHIB) coin cryptocurrency price prediction

It is “impossible” for Shiba Inu coin price to reach $1 because there “simply isn’t enough money” in the world, Don Guo, CEO of Broctagon Fintech Group, said in a statement earlier this month. Guo added it would require a “one quadrillion” market value for the meme coin to hit $1.

346,828 investors signed an online petition asking Robinhood to offer to trade the meme coin

A total of 346,828 people have signed an online petition asking Robinhood to offer to trade the meme coin.

Shiba Inu coin has surpassed the market capitalization of its fellow meme cryptocurrency devoted to the Japanese dog breed, according to CoinGecko, as Shiba backers petition the brokerage Robinbood to list the digital token.

The surge of the Shiba Inu coin comes against the backdrop of declines in the overall digital currency market

The surge of the Shiba Inu coin comes against the backdrop of declines in the overall digital currency market. Bitcoin, the No.1 digital token by market capitalization, was down 5.6% in the last 24 hours and has dropped 8.7% in the past week.

Watch video: Shiba Inu (SHIB) hits new all-time high; becomes the most traded cryptocurrency on coinbase

Shiba Inu (SHIB) hits new all-time high; becomes the most traded cryptocurrency on coinbase

…. rises 50% to be the 11th-biggest cryptocurrency coin by market value

Shiba Inu (SHIB) rises 50% to be the 11th-biggest cryptocurrency coin by market value

SHIB, as is known, on Sunday rose 50% in the 24 hours to 10:10 New York time, according to CoinGecko.com prices as reported by Business-Standard Media

 The Shiba Inu rose to a record high over the weekend to become the 11th cryptocurrency.

 SHIB, as it is known, was up 50% in the 24 hours to 10:10 am New York time on Sunday, according to prices from CoinGecko.com, and hit a record in the morning. A Change.org petition asking Robinhood to list SHIB on its platform has garnered nearly 300,000 signatures.

 Tokens have generated more than 40 million percent in the last year.

Read More on Bloomberg

Reasons Shiba Inu (SHIB) coin cryptocurrency price rose by 300%

Analysts say these reasons were behind Shiba Inu’s (SHIB) 300% rise last month

Analysts say these reasons were behind Shiba Inu’s coin cryptocurrency price rose 300% rise, mentioning Elon Musk intervention. Cryto Slate stated that Elon Musk helps SHIB to jump and stay on point.

Shiba Inu (SHIB) coin cryptocurrency price noticed some other dazzling healing on Monday, as Elon Musk tweeted canine textual content artwork and whale transactions stacked up.

 Is some other dramatic spike, much like the only in May, withinside the stars for the Dogecoin killer? The handler “This week indicates that retail fervor is returning to the market, that can bode properly for charge movement throughout the complete area in Q4.

Shiba Inu (SHIB) surged more than 20% in less than four hours today and is close (11%) to reaching its all-time high set on May 10, 2021.

Shiba Inu’s (SHIB) price skyrockets 20%, Is New All-time High Incoming?

SHIB had damaged above a descending triangle formation, as visible on the subsequent chart. Initially, it was given rejected at the $0.00003 resistance level. However, after a moderate pullback, SHIB controlled to interrupt above and speedily spiked toward the best-ever excessive sitting at $0.000035.

 This is roughly ~10-12% far from the modern-day by day excessive as of writing those lines, in keeping with CoinGecko. In case this resistance breaks – SHIB will attain the rate discovery zone.

 The bulls and bears are presently preventing simply below this massive resistance. It is doubtful if SHIB has the electricity to push better at this run. Following the 20% daily surge, it’s miles in all likelihood that Shiba Inu will see a few consolidations earlier than a probable try to interrupt the ATH.

Shiba Inu (SHIB) is an Ethereum-based ERC-20 token that has risen in popularity this year, largely because of its dog-themed ecosystem.

Shiba Inu (SHIB) Key Support level is at $0.000032 and its Key Resistance level: $0.000035.

Technical Indicators: Trading Volume, Relative Strength Index, and Moving Average Convergence Divergence 

 Trading Volume: Volume exploded after the resistance at $0.00033 broke. This indicates that the bulls have taken control of the price action. The question is whether they can support it in the next few days.

The Relative Strength Index (RSI)

The Relative Strength Index (RSI) is in the overbought area and almost reached 80 levels in 4 hours. A setback can be expected in the near future to calm down.

Relative strength index (RSI) is a momentum indicator that indicates overbought or oversold situations of an asset or cryptocurrency. Simply put, RSI is an oscillator that calculates high and low bands between two opposite values, while estimating the magnitude of price variation and the speed of these variations.

Moving average convergence divergence (MACD)

The histogram is positioned strongly to the bullish side on lower time frames like 4 hours. On the daily timeframe, SHIB has not crossed the upside, indicating that  SHIB needs to continue to turn bullish in the longer term.

Moving average convergence divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. … Traders may buy the security when the MACD crosses above its signal line and sell—or short—the security when the MACD crosses below the signal line.

Its continuation to gain more confidence in the current long-term bullish price action is necessary

This latest move has changed the bullish bias in the short term. However, it is necessary to continue to gain more confidence in the current long-term bullish price action.

Strong resistance amid all-time high resistance will cut into this green momentum and will likely see a quick move to test the lows around $0.000032 and $0.00033.

Read More on Cryptopotato

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