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Shiba Inu (SHIB), Stellar (XLM) Price Analysis: October 7, 2021

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  • Shiba Inu’s market cap expands significantly, making it the 12th largest cryptocurrency.
  • The Stellar Foundation partners with MoneyGram to enable crypto payouts in local currencies.

Bitcoin extended the rally above $55,000 and nearly touched $56,000, followed closely by other cryptocurrencies. Ethereum has settled above $55,000 at writing while bulls appear ready for the next attack mission to $4,000.

Shiba Inu rally kept roaring into the mid-week session, where it entered the top 20 and closed in on the top ten. The self-proclaimed Dogecoin killer boasts a $15.5 billion market up, elevated it to the 12th spot in the market.

Stellar is among the best performing cryptocurrencies on the day following a partnership with MoneyGram. The cross-border money transfer token had grown by over 13% to trade at $0.36 at writing.

Shiba Inu:-

Shiba Inu Started its journey to the moon aboard a spaceship crafted by Elon Musk. The billionaire and CEO of Tesla posted a picture of his pet Floki, a Shiba Inu. As fans reacted to the caption “Floki is finally here,” Shiba Inu price began rocking upward, first ‘deleting a zero) and subsequently exploding to $0.000035.

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Wednesday, the Dogecoin spinoff was among the most traded cryptocurrencies, with a volume dwarfing major altcoins like Cardano, Ripple, Dogecoin, and Solana. At writing, SHIB has corrected to $0.00003. The four-hour chart shows the token forming a red candlestick wick, implying that the price has the potential to keep the uptrend intact.

Realize that the token’s technical picture remains positively affirmed by the MACD and the RSI. The former has sustained a buy signal while the latter holds in the overbought region, still pointing upward.

SHIB/USD Four-Hour Chart

Live Chart

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SHIB/USD price chart
SHIB/USD price chart by Tradingview

Stellar:-

MoneyGram and the Stellar Foundation have entered into a partnership to see the former support crypto payouts in the users’ local currencies. According to an announcement made on Wednesday, the payments service provider will settle payments in Circle’s USDC while converting crypto to local currencies.

Stellar’s blockchain will help MoneyGram integrate the whole network with the United Texas Bank, functioning as the settled bank between Circle and MoneyGram. CEO of MoneyGram said that his company is bullish on the role of stablecoins in enabling faster cross-border payments.

Meanwhile, Stellar trades at $0.36 after extending the bullish leg from levels above $0.3 in less than 24 hours. The token faces immense resistance in the supply zone in red. A break above this level could quickly boost Stellar above $0.4.

XLM/USD Four-Hour Char

Live Chart

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XLM/USD price chart by Tradingview
XLM/USD price chart by Tradingview

All applied technical indicator suggests that buyers have the upper hand based on the MACD, the position of the moving averages and the RSI.

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Once SHIB Regains $0.00003, It May Reach New ATH: Candidate for US Senate 2022 Shannon Bray

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U.S. politician Shannon Bray joins the Shiba Inu army, wants to push SHIB back to $0.00003 and higher

Looks like the SHIB community has got itself a new powerful member: U.S. politician Shannon Bray.

Politician from Libertarian party touts SHIB

Candidate for U.S. Senate 2022 Shannon Bray has published a tweet about the Shiba Inu meme cryptocurrency, saying that once it recaptures the $0.00003 zone, it may reach a new all-time high soon after with little resistance.

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Bray has urged the SHIB army to “make some noise” to drive the coin to close Friday with an over 20% rise.

Bray is a Senate candidate from the Libertarian Party. He has worked in the spheres of software development, information security and management.

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Another influencer tweeting Shiba Inu picture

Elon Musk is not the only crypto influencer who likes tweeting pictures of Shiba Inu dogs. David Gokhshtein has now followed Musk’s example, posting a picture of the dog breed that inspired the first Dogecoin and then SHIB and FLOKI as well.

Gokhshtein has been holding Dogecoin and recently tweeted that he had gotten into SHIB and FLOKI too.

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Will SHIB go to $0.01 soon?

Recently, SHIB has been listed by Robinhood app’s rival, Public, and it is now accepted by real estate agency Candoli Propiedades based in Argentina. Besides, the coin has been added by two crypto exchanges—India-based ZebPay and Turkish BtcTurk, both the oldest and biggest platforms in their countries.

The community is expecting Robinhood app to list SHIB as well one of these days, hoping that it would push the price as high as $0.01.

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Robinhood CEO Dodges Question About Shiba Inu Listing

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Robinhood CEO Vladimir Tenev says that he has heard the Shiba Inu community

Robinhood CEO Vladimir Tenev addressed a swirl of rumors surrounding Shiba Inu during his Oct. 21 appearance on CNBC’s “Mad Money.”

When Jim Cramer, the host of the show, asked whether or not the leading online trading app was intending to list the canine meme token, Teven said that he had heard a lot of people in that community. 

Yet, he seemingly dodged the question and refused either to confirm or deny that the listing is indeed going to happen, prompting even more speculation. 

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“Safety first”

After an awkward pause, Tenev went on to mention that Robinhood only offers seven coins and stressed that the company prioritizes safety: 

I think it goes back to safety first. We are not generally going to be the first to add any new asset. We wanna make sure that it goes through a stringent set of criteria. 

As reported by U.Today, Robinhood competitor Public.com added support for Shiba Inu earlier this month. 

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Coinbase, America’s premiere crypto exchange, added support for SHIB in September. 

285 000 signatures 

In the meantime, a Change.org petition to post the Shiba Inu cryptocurrency on Robinhood has now surpassed 285,000 signatures. 

Tenev’s recent comment comes after the online brokerage denied making an announcement about listing SHIB, debunking Twitter rumors. 

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With that being said, Robinhood didn’t explicitly state that it wasn’t intending to list Shiba Inu in the future. 

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Traders swap Dogecoin for Shiba Inu on rumors of Robinhood listing

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  • Social investing app Public.com lists SHIB for members with crypto access; the platform is yet to launch crypto wallets.
  • Brazil’s largest cryptocurrency exchange Novadax added SHIB to its fiat-crypto market.
  • All staking and liquidity mining stablecoin rewards on SHIB will now be distributed through BONE, saving Shiba Inu holders the gas fees paid in Ethereum to claim rewards.
  • Development of Shibarium and Shiboshi games is underway; launch is expected within a few months.

Shiba Inu coin reached over a million new traders through its listing on Novadax, Public.com and CoinFLEX. A crypto exchange offered traders “Flip DOGE for SHIB” and exchanged Dogecoins for Shiba Inu tokens. 

Rumors of Robinhood listing, analysts predict SHIB recovery 

Public.com, a social investing app, recently listed the Shiba Inu coin for members who have opted in for cryptocurrency access on the platform. The social app added cryptocurrencies to its list of offerings on October 7. The platform has over a million traders on its app. 

Brazilian traders now access SHIB through the country’s largest cryptocurrency exchange, Novadax’s fiat-crypto market. Traders on the exchange can buy SHIB using Brazilian Real on Novadax. 

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ChangeNOW, a non-custodial cryptocurrency exchange platform, recently offered its traders the option to “Flip DOGE for SHIB,” effectively exchanging their Dogecoin holdings for Shiba Inu coin. Traders availed this service to accumulate more SHIB tokens ahead of the rumored listing on the zero-commission exchange platform, Robinhood. 

An anonymous source close to the exchange revealed that Robinhood had taken notice of the social media support for SHIB, and the platform plans to list SHIB soon. 

Shytoshi Kusama, the leader of all Shiba Inu ecosystem projects, recently shared an update on the trifecta SHIB, LEASH and BONE. Kusama addressed SHIB holders’ issue with ETH gas fee payment in claiming staking and liquidity rewards. All rewards in stablecoins will now be distributed through BONE. 

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Kusama confirmed that Shibarium and Shiboshi game development is underway, and there are plans to launch the products in the upcoming months. 

Pseudonymous cryptocurrency analyst @army_shiba is bullish on SHIB price. The analyst set a target of $0.00004161 and $0.00005201. 

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FXStreet analysts have evaluated the SHIB price trend and predicted that Shiba Inu has one obstacle to overcome before the Dogecoin-killer hits $0.00006. 

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