In a 24-hour period, the overall cryptocurrency market has just gained 1.69 percent in value. The value of major crypto tokens such as bitcoin and ether has plummeted.
Shiba Inu coin and Dogecoin, both meme-based digital coins, suffered a significant decline as a result of the crash.
While Shiba Inu has recovered from recent lows, the rally has been fueled by a widespread recovery in crypto markets. Bitcoin jumped from $33,000 to $38,000, and other cryptocurrencies followed suit.
Shiba Inu is the most recent meme coin to make an attempt to enter the Metaverse. The dog-themed token announced the launch of ‘Shiberse’ in 2022. Shiberse will be the first release in 2022, marking another step forward in the ecosystem’s development.
The build-up to the Metaverse’s release was just as thrilling. For almost a week, SHIB key developer Shytoshi Kusama had teased investors about the project, and now the team has officially announced it.
Another positive factor that might drive the price of Shib skyrocketing is a ‘Robinhood Listing,’ which has yet to happen.
According to sources, the co-Founder of Robinhood stated that they are aware of ShibArmy’s request to list Shiba Inu and that they will do so as soon as regulatory approval is obtained.
According to the most recent statistics from Robinhood, the app had 17.3 million users as of December 2021.
Shiba-Inu Price Analysis:
Shiba Inu is currently attempting to break through the $0.00002250 resistance level. Shiba Inu will proceed towards the next resistance, which is placed at $0.00002350, if this test is successful. A break over this level will lead to a test of the $0.00002550 resistance level.
If Shiba Inu rises above $0.00002550, it will test the next resistance level at $0.00002620, which is the 20 EMA. On the support side, $0.00002 is the nearest important support level for Shiba Inu.