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Shiba Inu nears ATH as Robinhood include SHIB in survey

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  • Robinhood has included Shiba Inu in its market research.
  • The community is bullish that this could be a sign that the Dogecoin killer may be listed on the platform.
  • SHIB soared over 20% following the development.

A few days ago, the market value of Shiba Inu (SHIB) spiked momentarily following rumors that the popular retail trading platform Robinhood was going to list it. This time, however, there is a piece of evidence to believe that Robinhood may be considering listing the SHIB token in the future, and this has awoken the price to almost its all-time high (ATH).

SHIB spikes over 20% in 24 hours

It was learned today that Robinhood has been circulating an email to selected customers on what cryptocurrencies they purchased within the last three months. 

The Shiba Inu token was included as an answer, although it’s not yet supported for trading on the platform. For the SHIB community, this was a clear indication that Robinhood is conducting market research to understand what cryptocurrencies the customers are interested in and probably a chance to get the token finally listed on the platform. 

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Amid the development, the price of Shiba Inu spiked over 20 percent as many investors rushed to accumulate more tokens. This is evident as the trading volume increased from $1.22 billion to over $3 billion within a period of two hours. At the current time, SHIB has slightly dropped to $0.00003238, which is about 16% away from the all-time high of $0.0000388 in May, according to CoinMarketCap data. 

Shiba Inu market is expanding 

Shiba Inu recently made headlines in the past day following its recent rally. This further brought the token to the limelight, which subsequently attracted more investors and exchange support. SHIB gained listing on a major Turkish exchange BTCTurk, including Indian-based ZebPay. Earlier this month, NOWPayments also supported the meme cryptocurrency as a payment currency.

These developments are bullish and extend the accessibility and utility of cryptocurrency, which is what people look out for. So far, Shiba Inu has attracted over 760,000 holders. Meanwhile, SHIB has also started trading on Robinhood’s rival, Public.com, and a listing on Robinhood would be more of a milestone for the community.

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Shiba Inu below capitulation zone, SHIBA at risk of returning to $0.000030

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  • Shiba Inu price traded below a critical Volume Profile level.
  • Bearish sentiment remains robust, and little support exists within the Ichimoku system.
  • Downside pressure could be sustained with marginal relief in sight.

Shiba Inu price, like the rest of the cryptocurrency market, has struggled since the flash-crash on early Saturday. While traders were able to rally SHIBA 25% above the Saturday lows, selling pressure resumed on Sunday.

Shiba Inu inside a highly volatile and weak price range

Shiba Inu price close its Sunday candlestick below a critical support level that indicates a fast sell-off is likely. The large, red, rectangular area represents a range between $0.000030 and $0.000036. The Volume Profile between those two levels is extremely thin and warns that any move below $0.000036 could trigger a quick and easy move lower.

Evidence of the speed of the drop was observed somewhat during Saturday’s sell-off, but that was mostly an episode of NOS (Non-Organic Selling). NOS is a technical term to describe any price action that is done mainly due to resting buy and sell orders or, as is often the case in the cryptocurrency market, forced liquidations from leveraged positions in derivatives markets. The flash-crash on Saturday is a perfect example of what NOS looks like and what the expected recovery should look like.

SHIBA/USDT Daily Ichimoku Chart

Traders will likely see a lower test due to Shiba Inu price closing inside that price zone. The closest Ichimoku support is at $0.000025 when the Chikou Span hit the top of the Cloud (Senkou Span A).

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To invalidate or at least give pause to the current bearish setup, Shiba Inu price would need to close above the daily Kijun-Sen at or above $0.000042.

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Shiba Inu (SHIB) Up 2,600,000% in the Last 365 Days

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Shiba Inu (SHIB) is up 2,600,000% in the last 365 days.
Watcher.Guru disclosed the SHIB’s yearly volume.
Shiba Inu (SHIB) is still up by 2,600,000% for the past 365 days, according to Watcher.Guru. This shows that regardless of how several other cryptos struggled with the ups and downs of the market beginning of this year, the SHIB token was not affected heavily.

In some way, the yearly volume of the SHIB‘s 2,600,000% figure tells that all the seemingly hypes and sentiments about Shiba Inu of late weren’t in vain. Instead, it was otherwise preparing SHIB for a better and lucrative phase ahead. Even in the past months, a day will not pass, without a piece of Shiba-related news.

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The SHIB token has subtly climbed ranks even more than how the crypto world expected. Meanwhile, at the beginning of its inception, traders didn’t have much interest in the SHIB token like today before it started a staggering spike in price.

Unlike how many other cryptocurrencies die off a short time after their price increase, Shiba Inu has maintained a stunning price performance. This makes it a direct threat to many other cryptos including Dogecoin (DOGE).

At writing time, SHIB trades at a decent price of $0.00003739. Also, it has more than $20 billion as its market capitalization volume, ranking as the 13th biggest cryptocurrency in the world on CoinMarketCap.

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SHIBA INU Weekly Forecast December 6 — 10, 2021

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SHIBA INU ends the trading week at 0.00004117 and continues to move within the fall and the downtrend channel. Moving averages indicate a bearish trend. Prices moved down from the area between the signal lines, which indicates pressure from sellers of the coin and a potential continuation of the fall. As part of the SHIB/USD rate forecast for the next trading week, we should expect an attempt to develop a bullish correction in the value of a digital asset and a test of the support area near the level of 0.00003855. From where a rebound is expected again and an attempt to grow the SHIBA INU cryptocurrency with a potential target above the level of 0.00008005.

SHIBA INU Weekly Forecast December 6 — 10, 2021

An additional signal in favor of raising the SHIB/USD quotes in the current trading week on December 6 — 10, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from an important support area, as we can see, there were also rebounds from this level. Cancellation of the growth option for the SHIBA INU cryptocurrency next trading week will be a fall and a breakdown of the 0.00002355 area. This will indicate a breakdown of the support area and a continued decline in SHIB/USD quotes with a target below the level of 0.00001505. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 0.00005505, which will indicate a breakdown of the upper border of the downward correction channel.

SHIBA INU Weekly Forecast December 6 — 10, 2021

SHIBA INU Weekly Forecast December 6 — 10, 2021 implies an attempt to test the support area near the level of 0.00003855. Then continued growth to the area above the level of 0.00008005. An additional signal in favor of a rise in SHIBA INU will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.00002355 area. This will indicate a continued decline in cryptocurrency with a target below 0.00001505.

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