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Shiba Inu is among the trending coins during the past 24 hours. The meme coin has defied all odds and has been performing well despite consolidation in the broader market. Following its gains, Shiba Inu has reached new all-time highs, and the uptrend is not showing any signs of exhaustion.
Shiba Inu is trading at $0.00003940 at the time of writing after a 40.6% gain in 24 hours.
Shiba Inu Price Analysis
Shiba Inu has emerged to become the most popular meme coin in the market. The coin has created a new all-time high, and it is still pushing to new heights. Over the past month, SHIB has gained by over 400%.
If the SHIB gains continue, we could see the meme coin pushing towards the next resistance level at $0.00004. The coin has tested this resistance during the past 24 hours, and despite failing to hold, it is still showing signs of reaching these heights again.
With buyer support being high, SHIB could soon break past the $0.000042 levels. Market support could also come in, where we could see the coin soaring to new heights.
Despite the gains that SHIB has made over the past month, there is a chance that the prices could also dip if the uptrend reaches exhaustion. In this case, the altcoin could drop to the lower support levels of $0.000028 and could consolidate here. However, if a strong bear market comes in play, a drop beyond $0.000025 could also be witnessed.
Shiba Inu has been enjoying overwhelming buyer support over the past month. The number of Shiba Inu coin holders has now surpassed 750,000, which is a major increase showing that over 100,000 new users have purchased the meme coin over the past month.
The Shiba Inu rally has also been fuelled by rumors that the altcoin could get listed on Robinhood. The growing interest in the meme coin has contributed to its listing on platforms such as Public.com and Novadax.
Where to Buy SHIB
If you want to buy SHIB during the current rally, you can create a cryptocurrency exchange account on eToro. eToro is one of the leading exchange platforms, and it supports a wide range of user-friendly features such as low trading fees and commissions. It also supports copy trading that allows a new trader to copy the trading strategies used by expert traders.
Looking to buy or trade Shiba Inu (SHIB) now? Invest at eToro!
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