Shiba Inu is one of the popular dog tokens making waves in the crypto market. One factor that makes SHIB a good investment among dog tokens is its low value that allows investors to purchase more tokens for less. SHIB was created to improve on the limitations of dogecoin, and because of this, it gained immense popularity.
In the past 24 hours, SHIB has gained 2.5% and is trading at $0.00000704 at the time of writing.
SHIB Price Analysis
SHIB has managed to recover from sharp bears by making slight gains in the past 24 hours. The token is still trading below the resistance level of $0.00000750, which means that more gains need to be made for a bullish flag to be established.
If SHIB wants to break out past the $0.00000750 resistance, it needs support from the broader market. Furthermore, it also needs to maintain an upward streak because any further declines at this level might strengthen bears.
If Shiba Inu is rejected at the resistance level, the coin might retreat to $0.0000070 and below, which might open up investors to more losses. Going below this level might trigger investor selloff, especially from those who want to minimize their losses.
SHIB volatility has heightened in the past few days following an unexpected pullback from the broader market. For this reason, price movement towards the higher or lower sides will be witnessed.
However, most investors believe that July is the month to watch out for Shiba Inu because of the developments taking place within the token’s community. First, the eagerly awaited virtual party on July 20 is expected to aid in a SHIB breakout.
ShibaSwap has also performed beyond expectations. The platform is adding more trading pairs that are attracting liquidity. The recently added trading pairs on ShibaSwap include SHIB-BONE, LEASH-BONE and ETH-USDT. The newly added pairs will widen the platform’s reach to the crypto community.
After reviewing the intial #analytics for #ShibaSwap, the Dev Team and the other signers agreed to move forward with adding 3 new pairs to the WOOF list:
⁃ ETH-USDT (300 AP)
⁃ LEASH-BONE (900 AP)
⁃ SHIB-BONE (600 AP)
— Shytoshi Kusama (@ShytoshiKusama) July 11, 2021
Where to Buy SHIB
Those who want to buy SHIB tokens can do so from the following crypto exchanges:
eToro is a cryptocurrency exchange that supports some of the most popular cryptocurrencies and trading pairs. eToro offers outstanding features to traders, among them copy trading and low trading fees.
The other crypto exchange where one can buy SHIB is KuCoin. KuCoin is an exchange that supports many altcoins, and just like eToro, it allows copy trading. KuCoin’s trading fees are also relatively low.
Looking to buy or trade Crypto now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provider