The Dogecoin Killer was supposed to start trading on Coinbase Pro on June 17, but it was postponed owing to technical challenges on the trader’s end. Shiba Inu coin supporters have also created a petition to persuade brokerage software Robinhood to list the Shiba Inu currency. It got 156,000 signatures as of Thursday.
SHIB price hit all-time highs in May but has since plummeted and remained there. According to Santiment, the reason Shiba Inu's price performed so well in May was that investors believed it would be the next Dogecoin. Doge has a significant influence on Shiba Inu.
Shiba Inu's price is surging, while Bitcoin price is still attempting to break through the crucial resistance level of $40,000. Other cryptocurrencies will likely receive extra support if Bitcoin price manages to settle above this level, which will be good for Shiba Inu.
In the last 24 hours, the SHIB has gained 9% of its value. Shiba Inu's price recently attempted to break through resistance level around $0.000010, but was unable to build enough upside momentum and retreated back. If Shiba Inu's price can break through the barrier at $0.000010, it will go on to the next resistance level at a price of $0.000012. If the price rises over this level, the next resistance of $0.0000135 will be tested.
On the flip side, Shiba Inu’s nearest support level is $0.000008. Because no significant levels have formed between $0.000008 and $0.000010, Shiba Inu's price may be forced to test the $0.000008 support level if the cryptocurrency market continues to be under pressure. Shiba Inu's price will be pushed towards the next support at $0.000007 if it falls below the support at $0.000008. If SHIB falls below this level, it will fall to the support level of $0.0000063.
DOGE/USD: Testing key support as technical setup favors the bears
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