Shiba Inu, better known as the potential doge killer, is starting the week at slight bulls. The token is one of the most popular among meme coins that was only launched recently. Still, it has grown because of the market and social media influence to become a top investment in the crypto market.
Shiba Inu is trading at $0.00000791 at the time of writing after a 3.5% gain in 24 hours.
SHIB Price Analysis
Looking at SHIB’s price trend in the past few days, the coin has managed to hold an even line in its trading graph, showing that price fluctuations are not high and market volatility is low.
Shiba Inu has maintained its levels between $0.000007. Despite some gains in recent weeks, the tokens bulls are not strong enough to push the coin to achieve the $0.00001 mark. This is the next resistance for the coin, and it needs broader market support to gain this uptrend and reach such levels.
If an upswing is halted, SHIB might retreat to $0.000006 if there are strong market bears. However, a retreat to this level might also create an entry position for new traders who want to increase their investment in SHIB. If this happens, Shiba might move back up again to $0.000007.
The newly launched ShibaSwap has attracted much attention towards SHIB, which could explain the token’s recent gains. In just two days of launch, ShibaSwap has surpassed expectations where the total value locked (TVL) reached $1.5 billion. Because of this growth in the platform, ShibaSwap’s liquidity has grown massively, and it now has higher liquidity than Uniswap, PancakeSwap and SushiSwap.
The value of Shiba Inu is also expected to grow towards the end of this month because of the Shiba Inu virtual party. The party will be free for everyone to attend; hence it might boost the global popularity for the token.
I am so excited to announce that we are throwing a Virtual Shiba Inu Party in 2 weeks featuring an amazing DJ set by @garethemery! Not only that… the set comes with an NFT AND physical sculpture that will be stored in a location TBA so #ShibaArmy can see it.
— Shytoshi Kusama (@ShytoshiKusama) July 6, 2021
Where to Buy Shiba Inu
Those who want to buy SHIB can do so from the following cryptocurrency exchanges.
One of the crypto exchanges that support SHIB is eToro. eToro is a reputable exchange that offers a wide range of unique features such as a copy trading account and competitive trading fees.
The other crypto exchange that supports SHIB is Coinbase. The token was recently added to Coinbase, and it offers competitive trading fees. Coinbase is also one of the leading exchanges, hence liquidity on the platform is relatively high.
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