The Shiba Inu community has hardly taken potshots at other cryptocurrencies out in the market to gain the spotlight. Many cryptos flex their muscles by highlighting their uniqueness often end up slurring at their competitors and poking fun of their investors.
The cryptocurrency market is nothing but a cesspool of investors who love dragging ‘other’ coins deep into the pit. A peek into Reddit’s cryptocurrency group shows how the market is divided between ‘my favorite coin Vs your favorite coin‘ hate.
The SHIB community believes in being defensive than offensive when it comes to showcasing their coin. The community as a whole has mostly avoided speaking ill about other coins and spread positivity where there’s hate.
While Dogecoin influencers are hellbent on calling other tokens ‘good’, the Shiba Inu community believes each coin is unique. Even SHIB influencers regularly praise other tokens and the community does not bat an eyelid. However, that’s not the case for other tokens as their influencers would receive hate for talking about how ‘other tokens can also be good’.
The inclusiveness and ‘no hatred’ policy is what’s attracting new investors into SHIB. The community makes everyone feel comfortable and welcoming, even to its criticizers. The culture of ‘no negativity’ against other tokens has rubbed off among all its investors. Undoubtedly this makes SHIB the shining city on the hill that’s accepting everyone into its fold.
Here’s An Example of Shiba Inu Positive Culture
When Shiba Inu spiked +900% in October 2021, Dogecoin co-founder Billy Markus poked fun at it saying ”4 quadrillion dollars”. However, SHIB’s top influencer ‘Milkshake’ refrained from spewing venom against him or Dogecoin and simply replied ‘Why Shiba Inu is good’.
Nonetheless, Markus blocked the influencer and the matter was laid down to rest. ‘Troll culture’ or ‘trolling your opponents’ is not in the bloodline of the Shiba Inu community. They choose to remain defensive than be offensive.
You can troll SHIB, but in return, you get educated about the coin’s prospects than being rained down by hate against the person and his favorite token. This culture makes SHIB stand apart from the crowd and gain new investors each day.
The coin is all set to breach the 1 Million holders mark and will cross the magic number this week. Shiba Inu at the time of publishing was trading at $0.00005235 and is down -0.34% in the 24-hours day trade. The coin still displays bullish sentiments and can propel in price in the coming weeks. A Robinhood listing can even make the coin delete two ‘zeroes’ from its trade.
Shiba Inu to revive bullish outlook if SHIB holds above this critical support level
- Shiba Inu price continues to trend lower as it records lower lows, failing to reverse the period of underperformance.
- However, the prevailing chart pattern suggests that SHIB could be preparing for a 42% surge if it tackles the remaining resistances ahead.
- The canine-themed token must hold above $0.00003457 to avoid invalidating the bullish outlook.
Shiba Inu price action has failed to galvanize investors’ enthusiasm as SHIB continues to create lower lows and lower highs. Although the canine-themed token’s momentum has shifted to the downside, the prevailing chart pattern suggests that a slice above $0.00004457 could put a 42% on the radar.
Shiba Inu price eyes 42% ascent
Shiba Inu price has formed a falling wedge pattern on the 12-hour chart, suggesting a bullish outlook for the token. The governing technical pattern indicates that SHIB could surge 42% toward the 61.8% Fibonacci retracement level at $0.00006363 if the dog-themed coin slices above the pattern’s topside trend line at $0.00004457.
Before Shiba Inu price could reach the aforementioned optimistic target, SHIB has a few obstacles to tackle ahead. The first area of resistance for the token is at the 21 twelve-hour Simple Moving Average (SMA) at $0.00004337, then at the 100 twelve-hour SMA at $0.00004538, before it confronts the upper boundary of the prevailing chart pattern at $0.00004457.
If Shiba Inu price manages to slice above the aforementioned resistances, additional hurdles may emerge before the token reaches the bullish target. The following obstacles for SHIB are at the 38.2% Fibonacci retracement level at $0.00004819, then at the 50 twelve-hour SMA at $0.00004991, then at the 50% retracement level at $0.00005591.
SHIB/USDT 12-hour chart
However, if selling pressure increases, Shiba Inu price could retest critical support levels before restoring its uptrend. The first line of defense for SHIB is at the 23.6% Fibonacci retracement level at $0.00003864. The lower boundary of the falling wedge pattern at $0.00003457 would act as a crucial foothold for the token, as breaking below this level would invalidate the bullish outlook.
If Shiba Inu price witnesses a catastrophic sell-off, SHIB could fall further, reaching the 200 twelve-hour SMA at $0.00002695, which sits near the support line given by the Momentum Reversal Indicator (MRI).
Newegg Confirms That It Will Accept Shiba Inu
It’s official: Shiba Inu will be accepted by electronics retailer Newegg.
Electronics retailer Newegg has confirmed that it will accept Shiba Inu, the second-biggest canine cryptocurrency, in a tweet.
The announcement was front-run by the cryptic tweet posted by the official Twitter account of the cryptocurrency and project lead Shytoshi Kusama.
As reported by U.Today, they tweeted the egg emoji together with the #friendshib hashtag.
Rumors about Newegg adding Shiba Inu to its list of available cryptocurrency payment options started flying last week after the City of Industry-based company tagged the two major Shiba Inu accounts on Twitter, asking for a direct message.
The veteran internet retailer introduced Bitcoin to its clients in 2014.
In April, it also added Dogecoin, the original meme coin.
Overall, Newegg presently supports 11 cryptocurrencies.
It’s not clear when Shiba Inu will appear on the list of payment options.
Shiba Inu (SHIB) Metaverse: Here’s Everything You Should Know About Meme Currency’s Gaming Venture
Shiba Inu (SHIB), the 12th largest cryptocurrency by market cap and the most popular meme currency at the moment is looking to build its Metaverse. Shiba Inu team announced they have onboarded William David Volk, former Vice President of Tech at Activision, one of the largest game developers in the US who boasts of a 36-year long career in the gaming industry.
Volk would be key to Shiba Inu’s development of Play-to-Earn (P2E) NFT games that would help the meme currency consequently transition into its Metaverse. The development of the Metaverse will begin in 2022 and will be built in-house by the SHIB team. Shytoshi Kusama, the project lead at Shiba Inu games revealed their Metavese approach would be quite different from Facebook.
ITS TIME #SHIBARMY Meet Shiba Inu Games' consultant William Volk (FORMER VP OF TECH AT ACTIVISION), (.@william_volk )🤯, .@Newegg #CyberMonday🤑, my take on the FBI "Metaverse" (FaceBook Inc) 😮💨, & the future of gaming in THIS medium! LFGGGGGGG! https://t.co/F0t5x5PhQ2— Shytoshi Kusama™ (@ShytoshiKusama) November 26, 2021
Shiba Inu’s team seems to be eager to shed the “joke currency” tag and become one of the early movers in the Metaverse. The leading meme currency is planning to incorporate the best of all current trends, be it P2E NFT gaming or Metaverse.
Can Shiba Inu Games Announcement Bring Back the Bulls?
Shiba Inu team continues to make great headway in terms of new functionalities and services, however, November has proven to be bearish for the SHIB price. The altcoin has lost more than 55% of its valuation from its all-time high of $0.0000885 in October.
The altcoin has seen constant bleeding throughout November as evident from the one-day chart. SHIB price is currently moving in a descending channel on the 1-day price chart, and the recent Metaverse announcement could help the meme currency make a bullish breakout after nearly four weeks of bearish momentum.
Metaverse tokens have been the talk of the crypto town recently with two major projects The Sandbox (SAND) and Decentraland (MANA) hogging all the limelight with their mammoth price surge. SAND price surged over 10X in November while MANA recorded a 7X surge. Apart from the price surge, some of the virtual properties in these metaverses have already fetched millions of dollars in the bid, making them costlier than some of the posh New York real estate.
Shiba Inu is banking its hope on the current Metaverse trend which could eventually bring back the bulls for the meme currency.