Crypto News

SHIB Price Prediction: Can Rising Adoption Drive Shiba Inu Over $ 0.000040?

Shiba Inu (SHIB) continues to trade green after rising over 25% in the past week, aided by rising adoption and a return of buyers to the crypto market earlier in the last week of the year. At the time of writing, SHIB / USD trading at around $ 0.000038.

Analysis by Coinmarketcap shows that the Shiba Inu coin was the most viewed Cryptocurrency on its platform, followed by the market leaders Bitcoin and Ethereum and its main rival Dogecoin. The price of SHIB was viewed more than 188 million times last year, as opposed to Bitcoin, which was viewed 145 million times in 2021.

Another milestone for the second most popular Memecoin is recognition as a payment option by the leading breast cancer organization Susan G. Komen. The foundation has partnered with The Giving Block to accept donations in cryptocurrencies, including SHIB and DOGE, and has another use case for the coin.

Meanwhile, while the holiday season is still on, popular crypto gift card exchange platform GiftChill has started accepting Shiba Inu as a payment option. Platform users can now purchase gift cards using SHIB and several other leading cryptocurrencies for use around the world.

A recent report from ZebPay – India’s oldest cryptocurrency exchange – may also offer assistance to the SHIB token in the near future. Shiba Inu was one of the most traded cryptocurrencies on its platform, ranking fourth after Bitcoin (BTC). Ethereum (ETH) and Polygon (MATIC).

SHIB / USD technical analysis

On the SHIB / USD 4-hour price chart, the moving averages indicate a strong bullish bias among investors. However, the technical leading indicators MACD and Momentum also point to a certain interest in selling.

SHIB / USD

The price of Shiba Inu is well above the pivot point at $ 0.000035, but it looks like buyers are struggling to break the hurdle presented by the psychological level at $ 0.000040. A breakthrough over it could lead to immediate resistance testing at $ 0.000042 so these levels should be kept an eye on for the short term.

Source: Crypto News Deutsch

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