Shiba Inu Price Prediction – Symmetrical Triangle to Drive Sell Under $0.000028

• Shiba Inu’s price forecast is trading with a neutral bias at $0.00002880, forming a double top pattern.
• To encourage Shiba Inu (SHIB) adoption, the platform has launched a $100,000 cryptocurrency giveaway.
• The breakout of $0.000021 can help SHIB/USDT to capture a sell trade until $0.000017.

The Shiba Inu’s price skyrocketed in the minutes following Robinhood’s announcement of its inclusion in its platform. As crypto usage grows, blockchains and decentralized finance (DeFi) protocols emerge, both of which impact the growth of the crypto space. Today’s Shiba Inu price is $0.000027, with a 24-hour trading volume of $4,280,639,181. Shiba Inu prices have risen by 18.35 percent in the last 24 hours. With a live market cap of $14,663,918,498, the current market ranking is 15.

Refer to our trading guides to enhance your Crypto trading skills.

Shiba Inu Surge After Getting Listed on Robinhood

As previously reported, Robinhood Crypto is a rapidly growing cryptocurrency exchange. They have added four new tokens to their trading platform. The native tokens of the Shiba Inu, Solana, Compound, and Polygon were chosen. Ever since Shiba Inu prices have risen by double digits as a result. The announcement comes just a week after the organization launched its long-awaited cryptocurrency wallet, with over 2 million users.

Steve Quirk, chief brokerage officer at Robinhood, says the company is still very interested in the cryptocurrency market. This is the most recent move made by the company. “We’re delighted to add more options for our users as we strive to make Robinhood the best place to invest in cryptocurrency,” he added. As a safety-first firm, we have a strict system in place to help us review assets for listing, and we are committed to providing a safe and instructive crypto platform.”

Shiba Inu Price Review

In addition, to encourage Shiba Inu (SHIB) adoption, the platform has launched a $100,000 cryptocurrency giveaway. Interacting with Robinhood on Twitter allows users to earn a portion of the price. The news increased the value of SHIB as well as Solana (SOL), Polygon (MATIC), and Compound (COMP). Following that, the cryptocurrency started to recover from its yearly lows.

Shiba Inu’s team also announced the launch of the first stage of their Metaverse initiative to help the bulls. This stage has been dubbed “Big Event,” It will allow LEASH and SHIBOSHI holders to become early investors. To participate, users must link their wallets to the SHIB.io website. Furthermore, the community will see more SHIB use cases. According to the project’s team, the token will be used in their native Metaverse platform for users to engage in activities, rename land plots, and lease land. These use cases will consume some SHIB, contributing to the positive trend.

Weaker Dollar Drive Uptrend in SHIB/USDT

The broad-based US dollar bearish trend, on the other hand, was regarded as one of the most important factors in attracting large bids for the SHIB/USD. As the Ukraine crisis shows no signs of abating anytime soon, the US dollar fell in Asia on Wednesday morning, while the euro remained at a five-week low. Investors digested the Reserve Bank of New Zealand (RBNZ) raising interest rates for the first time in 22 years. The US Dollar Index, which measures the value of the dollar against a basket of other currencies, had dropped 0.04 percent to 100.250. (3:39 AM GMT).

Shiba Inu Price Prediction- Symmetrical Triangle in Highlights

Shiba Inu’s price forecast is trading with a neutral bias at $0.00002880, forming a double top pattern. The double top pattern extends to major resistance at $0.00002880.  On the daily timeframe, the SHIB/USDT has formed a symmetrical triangle pattern that extends strong resistance at $0.000028 and support at $0.000021. A surge in Shiba Inu demand can slice through a major resistance level of 0.000028 and lead the coin’s price towards the 0.000034 mark.

The RSI supports indecision among investors, and it looks like traders are looking for a solid reason to go long in the market. Until we have major fundamental releases, investors have two options: 

Firstly, let’s trade the choppy session, selling under $0.000028 resistance with a stop loss above $0.000030. Buying above the $0.000021 support zone

Secondly, the symmetrical triangle breakout. If Shiba Inu breaks on the higher side, it may offer a buying trade above 0.000028 with a target price of 0.000035. Conversely, the breakout of $0.000021 can help us capture a sell trade until $0.000017.

All the best, and stay tuned for more updates!