SHIB Is The Profit King Of The Market! Analyst Shares Next - News-Credit-Mortgage-Coin


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Tuesday, October 5, 2021

SHIB Is The Profit King Of The Market! Analyst Shares Next


The Shiba Inu cleared a zero from its price and rose more than 100% from last week to reach a 3-month high of $0.00001445. Analysts think that Dogecoin is in the accumulation zone and traders are turning to meme coins like Shiba Inu. On-chain activity has also exploded after a mysterious whale purchased SHIB for over $43 million on September 30. Check out these for the next bomb…

SHIB community awaits Robinhood roster

Shiba Inu is emerging as one of the most traded tokens by volume on spot exchanges worldwide. Shiba Inu investors expect SHIB to be listed on the commission-free Robinhood exchange. Now, the popular Shiba Inu as the Dogecoin killer has made a comeback with a massive rebound, gaining more than 50% overnight. The decentralized Shiba-Inu-themed cryptocurrency is poised to overtake Dogecoin with its latest rally and updates to its ecosystem. Here's the daily outlook on SHIB:

Let's start a little behind

Launched in August 2020, the Shiba Inu has a market cap of $6.4 billion against Dogecoin's $31.2 billion market cap. Analysts compare SHIB's current rally to Dogecoin's rise in April 2018. However, a cooldown has followed, and DOGE price has dropped 75% from the $0.63 high since the end of this rally. Analysts say DOGE is in the accumulation phase, while SHIB leads the way in unrealized gains for shareholders.

Also, Shiba Inu dominance is considered a measure of their popularity in the community. The metric tracks SHIB's market cap as a percentage of the overall cryptocurrency market capitalization, which has risen over 40% over the past three days. The increase in Dominans followed the increase in the price of SHIB as per the chart below.

There are 682,031 SHIB holders waiting for Robinhood listing

Memecoin currently has 682,031 holders, all of whom await the SHIB listing on Robinhood. The exchange has yet to reveal the list of the Dogecoin killer, and rumors that the token is listed on Robinhood are making a round every few weeks, positively influencing the price of SHIB. A major event lined up in the SHIB ecosystem is the launch of 10,000 NFTs, Shiboshis on Shiba Swap. Earlier last week, Shytoshi Kusama, head of Shiba Inu ecosystem projects, announced the sale of NFT.

The date of the private NFT sale has yet to be announced. There is intense competition to acquire NFTs as Shiboshis will only be available to LEASH holders within the first 24 hours. Shytoshi Kusama hinted at the greater benefits of NFTs, writes in his blog post:

Finally, at launch, the Shiboshi roadmap will explain how we plan to expand Shiboshis and use these unique NFTs to grow the Shib Token Trifecta. Hint: Game.

Shiba Inu ecosystem and metaverse

The Shiba Inu ecosystem has yet to see “play-win, play to earn” or NFT game metaverse implementations. The arrival of Shiboshis is set to change this and increase the utility of SHIB tokens and NFTs in the token ecosystem. SHIB holders expect the ongoing price rally to continue as events like the NFT launch line up. Another major contributing factor to the frenzy is SHIB whale activity…

A mysterious SHIB whale recently purchased over $43 million in SHIB tokens on September 30. The purchase is currently worth $77.2 million, a gain of about 45% in five days.

What levels can SHIB reach?

@FeraSY1, a full-time trader and analyst, predicts $0.00001550 as the next target for the Shiba Inu after the meme coin hits its first two targets. FeraSY1 shared the following levels on October 4th:

SHIB exits 138-day accumulation range Holding above 900 means we see $1100-1270-1550 next, if it closes inside the range again, we will see the range lower again

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