Shiba inu coin<\/strong><\/span><\/a> soared to a new record on Wednesday, capping a surge of over 60,000,000% over the past year. It has pared back some of its gains since hitting its all-time high early morning US time, but remains the 11th biggest digital currency by market capitalization. Like dogecoin, shiba inu coin<\/strong> features the Shiba Inu dog as its mascot. Its meteoric rise has made some investors millionaires overnight.<\/p>\n The coin<\/strong> has also won a handful of celebrity backers, from former boy band stars to pro athletes.<\/p>\n Earlier this year, Ethereum co-founder Vitalik Buterin<\/strong><\/a> made headlines by donating $1 billion worth of shiba inu coin to a Covid-19 relief fund in India. Robinhood<\/strong><\/span> did not immediately respond to a request for comment from CNN Business. The company in 2018 started expanding its crypto offerings beyond bitcoin and ethereum to include currencies including litecoin and bitcoin cash. what is elon musk shiba inu $1<\/a><\/strong> ? Shiba inu coin also surged earlier this week, but lost some recent gains after Tesla CEO Elon Musk<\/strong><\/a> ( who is a big fan of dogecoin<\/strong><\/a> ) tweeted<\/strong> that he does not own any shiba inu coin<\/strong>.<\/p>\n In a follow up tweet, he added that he has bought “Bitcoin, Ethereum & Doge. That’s it.” Musk’s tweets have frequently moved crypto markets.<\/p>\n Other popular virtual currencies have also seen explosive growth. Bitcoin, the world’s most valuable cryptocurrency, hit an all-time high of nearly $67,000 per coin last week, topping the previous record set in April. <\/p>\n also read :<\/p>\n The MRI displays a major sell signal, hinting at a correction that could extend 17%. Shiba Inu price<\/strong><\/span> saw a massive up move after it broke out of its consolidation pattern on October 23.<\/p>\n As bulls overextend the rally, however, things need to cool off before another massive rally emerges. Market participants should anticipate a retracement, therefore.<\/p>\n Shiba Inu price rose<\/strong> 28% on October 27 to set up a new all-time high<\/strong> at $0.0000595.<\/p>\n The altcoin markets are seeing a massive sell<\/strong>-off, however, which is reflected in the SHIB price<\/strong><\/span>. So far, Shiba Inu price has dropped 10% from the peak, and the Momentum Reversal Indicator has flashed a red \u2018one\u2019 sell signal on the 12-hour chart.<\/p>\n This technical formation forecasts that a one-to-four candlestick correction is likely. Investors need to be prepared for correction, therefore, that will serve as a \u201cbuy\u201d opportunity. The support barrier at $0.0000446 is the first level to keep an eye out for. While a bullish reaction here is likely, the SHIB could drop down to $0.0000414. As long as the 12-hour candlestick does not close below $0.00000383, the buying opportunity remains valid.<\/p>\n Assuming Shiba Inu price stays above the said barriers, investors can expect the memecoin to make a healthy comeback and restart its upswing.<\/p>\n<\/blockquote>\n In this situation, SHIB will likely make a run at its newly erected all-time high at $0.0000595 and then tag the 161.8% trend-based Fibonacci extension level. If the bullish momentum is similar to the one seen after the breakout of the bullish pennant, investors can expect the Dogecoin killer to lock in on the next level at $0.0000914. This ascent would constitute a 104% gain from $0.0000446 and would essentially double the market value of SHIB tokens.<\/p>\n While a retracement is a boon for long-term holders, short-term holders would not like it if it extended. SHIB needs to stay above $0.0000383, therefore. A decisive 12-hour close below this barrier, however, will suggest that the downswing will extend lower.<\/p>\n In such a situation, investors can expect SHIB to retest the range high at $0.00003528. A breakdown of this barrier, however, will invalidate the bullish thesis.<\/p>\n\n\n
The parody cryptocurrency<\/strong><\/a> , which appears to be inspired by dogecoin, another meme cryptocurrency<\/strong> is up almost 30% over the past 24 hours, according to CoinGecko.<\/p>\nWill Shiba Inu coin reach $1?<\/h2>\n
The token<\/strong>, which was launched last year, has surged roughly 100% in the last seven days, and now has a a market value of about $26 billion.<\/p>\n
Its dramatic rise this week coincides with rising support for a Change.org petition urging trading platform Robinhood<\/a> to list shiba inu coin<\/strong> on the site. The petition has garnered 334,500 signatures so far.<\/p>\nRobinhood Shiba inu coin price<\/h2>\n
This year, dogecoin’s record rise put so much pressure on the platform’s crypto trading systems, that it was briefly broken. It said this week that cryptocurrencies accounted for nearly 20% of its transaction-based revenues in the third quarter, or about $51 million. That’s an 860% increase from the same period last year.<\/p>\n
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Bitcoin prices have surged 50% this month, from just under $44,000 at the end of September. Bitcoin is currently trading at almost $60,000.<\/p>\n\n
Shiba Inu price to provide buy opportunity before SHIB doubles again<\/h2>\n
Shiba Inu price<\/strong><\/span> is due for a retracement after rallying 113% in less than three days.<\/h6>\n
A bounce off the $0.0000446 support floor will kick-start another 100% advance to $0.0000914.<\/p>\nThis ascent propelled SHIB<\/strong> to a new all-time high.<\/h3>\n
Shiba Inu price needs to cool down<\/h4>\n
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Shiba Inu has more legs to go up before SHIB hits a market top<\/h4>\n\n\n\n