The broader crypto market is showing strong signs of a bullish trend, and SHIB price is among the leading coins in terms of gains. The last 24-hours Shiba Inu uptrend has enabled the coin to surge more than 70%.
Will SHIB Price Kill Another ZERO this Week?
At press time SHIB price is trading at $0.00001608 with a more than 70 % upswing. If the current sentiments are maintained, the SHIB price can rally towards the next resistance level of $0.000017.
In case if the buying spree continues with the positive market sentiments the meme token price can surge to $0.00002
On the flip side, if the SHIB price fails to break this resistance the altcoin might test the initial support levels at $0.00001308. In an extended loss if the will drop to the level of $0.000009, which could trigger dip buying and enter the consideration phase before the massive rally.
As per the above chart, A breakout from the pattern, SHIB price may hit $0.00001800. However, a breakdown on the 38.2% Fibonacci level would be a big shock for SHIB traders.
Should Shia Inu be accepted as Payment mode?
Recently, the Shiba Inu community in Venezuela posted on SHIB Payments. As per the tweet, the country of Venezuela has 50 stores that accept SHIB crypto as their mode of payment.
In Addition, this news can be considered as one of the catalysts for the SHIB massive rally. If this bullish run continues, we can expect a growth rate of 100% or more in no time.
Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.