A big cryptocurrency exchange called Crypto.com has recently put a spotlight on Shiba Inu (SHIB), which has got the Shiba Inu community really excited.
Crypto.com highlighted Shibtoken (SHIB), the second-largest memecoin by market cap, founded in 2020 by an anonymous individual or group known as Ryoshi, named after the Shiba Inu dog. The post included the iconic Shiba Inu logo, along with its market cap and price change over the past week.
Shiba Inu’s Rise to Prominence: A Sign of Potential in the Crypto Market
The recent spotlight on Shiba Inu by Crypto.com not only underscores the coin’s popularity but also hints at its potential to become a significant player in the cryptocurrency market. The Shiba Inu official X handle responded to the post, emphasizing Shiba Inu’s ambition to surpass its competitors: “2 today, but the Doge days are numbered.”
#2 today, but the Doge days are numbered. We've got the #ShibaArmy #Shibarium and secret wags we can't reveal yet. Get ready for a new top doggo. Much wows incoming! #SHIB https://t.co/GiCJ2OKCLv
— Shib (@Shibtoken) March 20, 2024
Additionally, the handle hinted at forthcoming developments, suggesting surprises in store for the community: “We’ve got the Shiba Army Shibarium and secret wags we can’t reveal yet. Get ready for a new top doggo. Much wows incoming.” This indicates that Shiba Inu is gearing up for significant advancements and innovations.
As cryptocurrencies continue to evolve, Shiba Inu’s recent spotlight by the crypto exchange serves as a clear indication that the “Doge killer” is here to stay and poised for further growth in the market.
SHIB Price Analysis: Bulls Attempt Rebound Amid Consolidation
After facing two consecutive days of declines, SHIB experienced a rebound during today’s trading session, bouncing back from lows of $0.00002366. Bulls made efforts to establish the $0.000023 level as support, a crucial step for SHIB’s recovery above the $0.00003 mark, a level it previously traded at on March 17.
The $0.000023 level currently marks the lower boundary of Shiba Inu’s consolidation range. A successful breach of this level could potentially lead to further declines, with the next target likely around the $0.000019 level.
Data from IntoTheBlock reveals that a significant volume of SHIB, totaling 95.11 trillion tokens, was bought between the price range of $0.000023 and $0.000030 by 133,040 addresses, with an average purchase price of $0.000026.
As of the latest update, SHIB has seen a 4% increase in the last 24 hours, trading at $0.000026. Looking ahead, the next major resistance levels for SHIB are expected to be between $0.000031 and $0.000037, where 33.38 trillion SHIB were purchased by 143,710 addresses at an average price of $0.000033.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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