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These might be two of Shiba Inu’s possible breakout scenarios

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Following a breakdown from a previous triangle setup, Shiba Inu looks to claw back lost ground from yet another symmetrical triangle setup. A recovery along the RSI underpinned SHIB’s development within the triangle, although at press time, a bearish bias was still intact.

Traders should watch out for a close above key levels to get more clarity as far as breakout direction is concerned. At the time of writing, SHIB was trading at $0.00005279, up by 0.44% over the last 24 hours.

Shiba Inu 4-hour Chart

Source: SHIB/USD, TradingView

Shiba Inu formed yet another symmetrical triangle after snapping three lower highs and three higher lows over the last 10 days. Post the final round of consolidation, SHIB eyed a 33% breakout in either direction, based on the highest and lowest points within the pattern.

Bullish traders should await a close above the confluence of the 4-hour 50-SMA (yellow) and 138.2% Fibonacci Extension. This would pave the way for a breakout target of $0.00007209. A decisive leg above 11 November’s swing high of $0.00005796 would confirm a favorable outcome.

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On the flip side, a breakdown can be anticipated if SHIB weakens below its 200-SMA (green). A move in the opposite direction could extend all the way to the defensive zone of $0.00003282-$0.00003180.

Reasoning

Considering the nature of its 4-hour RSI, MACD, and Awesome Oscillator, SHIB seemed to be within a bearish bias. Especially since each of the indicators traded under their half-lines and offered sell signals.

However, it’s worth noting that the RSI formed an ascending triangle and was awaiting a bullish breakout. Similarly, higher lows were also observed along the MACD and Awesome Oscillator, suggesting a revival in buying pressure.

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Conclusion 

If the aforementioned indicators do manage to break resistance at their mid-points, SHIB would eye an upwards breakout from its triangle. Traders can go long once SHIB establishes a leg above the 138.2% Fibonacci level and exit their trades at $0.00007209.

A stop-loss can be maintained at $0.00004550, below 10 November’s swing low.

On the flip side, a bearish outcome would be likely if SHIB slips below its 4-hour 200-SMA (green).

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Will Newegg Accept Shiba Inu? Mysterious Tweet Reignites Rumors

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Shiba Inu hodlers are trying to wrap their heads around a mysterious tweet posted by the token’s official Twitter account

The Shiba Inu community has been bewildered by the #friendshib hashtag posted by the official Twitter account of the meme cryptocurrency.

It is accompanied by the egg emoji, which might be hinting at a potential partnership with electronics retail giant Newegg, according to some SHIB hodlers.  

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The same tweet was posted by lead developer Shytoshi Kusama, fueling anticipation within the community. Both tweets have generated more than 9,000 likes at the time of writing along with thousands of replies.  

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As reported by U.Today, Newegg tagged both accounts last Saturday, prompting rumors about possibly adding SHIB as a payment option.      

The official account of the Shiba Inu token posted a 16-second teaser that shows a set of lightbulbs gradually lighting up on Thursday. The community started speculating that this could be related to a potential partnership.

Notably, the video clip also displayed a logo that seemingly combines “W” and “V.”

On Thursday, Kusama tweeted that he would publish a Medium blog post about Shiba Inu Games and announce a consultant who would work with the game studio. 

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Some have suggested that it could be William Volk, former vice president of American video game publisher Activision, based on his initials. The fact that Kusama follows him on Twitter made the rumor more plausible. 

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Shiba Inu Community Puzzled by Mysterious Twitter Hashtag. Is New #Friendshib on the Horizon?

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Shiba Inu hodlers are trying to wrap their heads around a mysterious tweet posted by the token’s official Twitter account

The Shiba Inu community has been bewildered by the #friendshib hashtag posted by the official Twitter account of the meme cryptocurrency.

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The hashtag in question was also posted by lead developer Shytoshi Kusama, fueling anticipation within the community. Both tweets have generated more than 5,000 likes at the time of writing. 

As reported by U.Today, the official account of the Shiba Inu token posted a 16-second teaser that shows a set of lightbulbs gradually lighting up. The community started speculating that this could be related to a potential partnership.

Notably, the video clip also displayed a logo that seemingly combines “W” and “V.”

On Thursday, Kusama tweeted that he would publish a Medium blog post about Shiba Inu Games and announce a consultant who would work with the game studio. 

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Some have speculated that it could be William Volk, former vice president of American video game publisher Activision, based on his initials. The fact that Kusama follows him on Twitter made the rumor more plausible. 

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Tech Savvy Crooks Are Stealing Millions in Bitcoin, Ethereum and Shiba Inu Through YouTube Live: Report

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Scammers are using compromised YouTube accounts to steal millions of dollars in crypto from unsuspecting viewers, according to a new report.

The cybersecurity firm Tenable says digital thieves are employing a savvy blend of fake celebrity endorsements and trending cryptocurrencies to reap illicit gains through fake giveaway events.

Analyst Satnam Narang says the scammers are utilizing YouTube Live to create supposed live streams that in actuality broadcast pre-recorded, ripped-off and manipulated content.

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“To promote the fake cryptocurrency giveaways on YouTube, scammers follow a very basic templated approach… Each video contains a section that features an unrelated interview involving notable [crypto] figures…

The videos contain a section that features the URL for the so-called event or giveaway. This section is not clickable, which means the user has to manually type in the URL to reach it.”

Once the viewer visits the scammers’ website, they are asked to send funds to a crypto address and told they will later receive double their money or more in return.

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The crooks are stealing popular crypto assets including Bitcoin (BTC), Ethereum (ETH) and popular memecoin Shiba Inu (SHIB).

Narang says that in a recent month-long survey of YouTube Live scams, he counted at least $8.9 million in fraudulent activity.

The report goes on to explain how familiar faces are ideal to use as bait when luring in victims.

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“Scammers recognize that users place a lot of trust in influential voices. Combined with the plethora of existing interview footage featuring many of these notable figures, scammers have developed a formula that adds legitimacy to their efforts and has continued to work for years.”

The report notes that an important aspect of running a successful scam is to take over an existing YouTube account that already has a large subscriber base. This leverage provides an air of legitimacy and increases the likelihood that a significant number of people will encounter the video.

The presentations are designed to be slick and professional, such as this fake Elon Musk/SHIB promotion.

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Source: Tenable

Tenable notes that after Musk’s appearance on popular late-night comedy show Saturday Night Live back in May, hackers made off with over $10 million via fake crypto giveaways.

In response to the proliferation of fraud on its platforms, Google’s Threat Analysis Group recently posted a wide-ranging report called “Phishing campaign targets YouTube creators with cookie theft malware.”

The section about crypto fraud states,

“A large number of hijacked channels were rebranded for cryptocurrency scam live-streaming. On account-trading markets, hijacked channels ranged from $3 USD to $4,000 USD depending on the number of subscribers.”

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