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SHIB nearing an all-time high

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  • Robinhood has added Shiba Inu in its business study.
  • The token rose over 20% following the progress.

The Shiba Inu (SHIB) token has seen a recent spurt of activity. So, we may be witnessing the beginning of what could become another historic bull run. Additionally, the Robinhood application is contemplating listing this cryptocurrency on its exchange platform. As a result of these rumors, the price is further surging towards an ATH.

SHIB nearing an all-time high 1

Source: TradingView

Robinhood has sent out survey emails to clients who bought cryptos in the last three months.

The inclusion of the coin as a survey question despite not being listed for dealing on Robinhood’s platform is a positive sign. It shows that the company is carrying research on the token and getting closer to listing it.

SHIB spikes over 20% in 24 hours

As investors clamored for more tokens, the value of Shiba Inu rose by over 20%. This has been shown by the trade mass increasing from $1.22 billion in two hours and reaching three Billion within that period. Currently, the coin is slightly down, about 16%. In part, you can attribute this to its current run-up following an initial dip back near an all-time high at $0.00003888 in May.

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The release of 10,000 Shiboshi NFT further saw many clients scramble to make purchases. This new market has, in turn, pushed the price of the token much closer to an ATH.

Own chain launch effect

The Shiba Inu community is currently in the testing phase of its blockchain. That’s according to the Volunteer Project Lead at Shibium Corporation Kusama. Members within the crypto space and other sources as well have confirmed this.

Reportedly, the blockchain will be a layer-2 Ethereum scaling solution. When complete, it’ll hold the token as its native platform token. And thus help change ShibaSwap’s woofing system, which has become too expensive.

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Moreover, Shibaswap will be hosting projects just like Polygon, which will grow trading sizes and liquidity. The chain also has plans for dApps of all types, including games wallets or even NFTs.

With this progress, more clients are increasing their ownership stake. The increase in purchase probably drives the cost higher towards the ATH.

OKex poll for leash effect

SHIB nearing an all-time high 2

Three days ago, OKex called on memecoin believers through a tweet to vote for their favorite memecoin for listing on their platform. Shiba Inu was among the tokens listed for voting, and the only need was for the coin to get  5000 votes.

The voting process opened three days ago and stops today, October 24

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You must deposit more than 10 USDT in a single transaction of one token competing in this voting competition to cast your vote. OKEx will then record those two highest-scoring candidates as winners, listing their corresponding token(s).

The Shiba Inu spirit has been running rampant in the cryptocurrency world recently.  The development has further drawn their token to light, which afterward attracted more investors and market support. The token is now available on a significant Turkish exchange, and it has received approval for listing by ZebPay.

Again, the Shiba Inu community is rising in popularity, with over 760 thousand holders. At the same time, the token has further begun swapping on Public.com. The Robinhood tease is also playing a role in exciting the coin further.

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Shiba Inu Can Now Be Used for Booking Over 2 Million Hotels

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Travala has added support for the Shiba Inu cryptocurrency.

Cryptocurrency-focused travel company Travala has announced that it now accepts Shiba Inu as a means of payment after the community managed to win a “battle” against rival meme coin Floki Inu. 

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This means that the red-hot cryptocurrency can now be used for booking over 2.2 million hotels and accommodations around the globe.

Dogecoin, the original joke cryptocurrency, was added to the list of available payment options in early May.

In July, Travala launched Dtravel, a decentralized home rental service that aims to compete with incumbents of the likes of Airbnb. Its ownership is managed with the help of the decentralized autonomous organization (DAO) model.

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The service was launched in 2017 and quickly became popular with crypto-friendly travelers.

Last year, Travala merged with Binance-invested competitor TravelbyBit.   

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Wealth Of US Billionaires $3 Trillion Shiba Inu Market Cap $20 Billion

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Dan Held Expressed: Total wealth of US billionaires = $3 trillion.

If we confiscated all of their wealth, we’d only be able to run the federal government for less than 6 months. Perhaps our problem isn’t how much billionaires have but how much politicians spend.

Community Response:  Brilliant observation.  Total wealth of US billionaires = $3 trillion. Shiba Inu market cap = $20 billion. Still early.  +589 trillion tokens requires a lot of burning over the next millennium. Still early.

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That’s 100% our problem and anyone that tells you otherwise is pandering.

Who’s saying confiscate their money.  No one.  Just be nice if they paid a higher effective tax rate than the regular Joe.

Sure and I agree but we would only get enough taxes out of them to run the government for like two weeks.

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There are like 100 billionaires. The fact that so few people have wealth that could fund the entire US government, everything included, for 6 months is sort of a problem.

Nope, you’ve missed the point entirely.

If government spending was less, it would only mean that these individuals could fund it for even longer. How does that make it better?

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The point is that government is a machine designed to reward inefficiency and failure. Literally every dept in the gov burns resources at the end of the fiscal year so they don’t get a reduced budget the following year.

Have you ever worked in a business with a budget? Happens all the time.

Businesses subject to the free market cannot do this ad infinitum as the government can, a very notable difference, and when a private business makes bad financial decisions in that case, because I am not footing the bill.

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It is, but I suspect you are confused as to the source of the problem.

You are way off if that statistic.  The government money printer destroyed the natural mechanism of capital allocation. And still there are groups who are thinking that the government can solve every problem on earth. It’s time to take them their printing machine away.

“Your problems are not caused by someone else being a billionaire”

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Not everyone can be a billionaire. So actually, it is. Competition for wealth, yeah, but we don’t need to have loosers in that system. The system of the future will allow people to opt of even playing the game, and still survive.

It could also be both. Why target one thing vs a broad and sweeping solution?

What if we take their money and yield farm with it?  You want to take their money so you can make money for yourself then? And then, when you become the rich one, what happens then?

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Not to mention in order to do that you will need to liquidate their companies where the residual value lies. This would effectively shut down things like Tesla and Amazon. They just keep spending though.

Should anyone in a civilized society have this much power (political influence) without accountability?

But also, the world’s 2000 billionaires have as much wealth as the poorest 4 billion people.

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Shiba Inu restarts bull run as global tailwinds take over

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  • Shiba Inu has curbed the downtrend with a pickup in buying volume.
  • SHIB price looks bullish with a possible return to $0.00004490. 
  • Expect a possible start of an uptrend towards $0.00008373 if current tailwinds  persist.

Shiba Inu (SHIB) price has been under pressure over the weekend and accelerated its downtrend due to the spillover effect from the Bitcoin flash crash. SHIB price then bounced off the monthly S1 support level, however, and created a bullish knee-jerk reaction, reversing most of the incurred losses from the weekend. The short-squeeze could see SHIB price return, first to  $0.000004490, and then on the back of a global recovery, perhaps all the way back up to $0.00008373.

SHIB price sees bulls squaring incurred losses

Shiba Inu price sees bulls playing the global recovery story as the bear run was halted at the monthly S1 support level near $0.00003000, and the red descending trend line just below.. Expect bears that came too late to the party to now lick their wounds as the bullish knee-jerk reaction squeezes them out of their positions.. As global equity markets are recovering their losses from last week, more and more bears will be pushed out of their positions, obliged to revert to the buy side and square their losses.

This will result in SHIB price picking up steam to the upside, which will attract more investors to the price action and could easily see bulls reversing the fully incurred losses from past weekend towards the 61.8% Fibonacci level at $0.000004490. Bulls might face some resistance around that level as the 55-day Simple Moving Average (SMA) is hovering just above that 61.8% Fibonacci level. Current tailwinds look quite sound, expect further upside potential towards the 50% Fibonacci level at $0.00005690.

SHIB/USD daily chart

SHIB/USD daily chart

Expect bulls to further add to the rally as more technical levels get cleared, with equity markets pushing to new all-time highs and lifting investment sentiment. By the end of next week, SHIB price could be at $0.00008373, or the 23.6% Fibonacci level. If market sentiment flips back to the downside, expect bears to try and push price action below the red descending trend line with considerable support at $0.00002000 where the 200-day SMA is located.   

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