With an improved chance of purchase, the cryptocurrency Shiba Inu has continued to scale the heights of the crypto world since it got listed in Coinbase. At present, the cryptocurrency is trying to reach the $0.000009 mark.
Elon Musk Tweet Causes Surge
The stocks of Shiba Inu started to rise after Tesla CEO Elon Musk tweeted a picture of new logo Floki, the puppy that represents Shiba Inu. Banking on this, the cryptocurrency had a 16.42% jump to reach the $0.00000950 mark. It’s the first time since the Shiba Inu reached that level in June.
The stocks kept gaining momentum by 26% and above last Thursday as the market went bullish. This in turn increased their returns by 40%. This happened in just 2 days of trading.
Market Turns Bullish
This is proving to be quite bullish for the cryptocurrency market as Bitcoin is stuck at $48k. If Bitcoin breaks into the next level, the market will become more bullish, ultimately helping Shiba Inu.
Cryptocurrencies like Ethereum, Dogecoin are also surging ahead with a $3600 and $0.2570 resistance target, respectively. XRP is going towards $1.09
In recent times, Shiba Inu successfully broke out into the $0.0000095 level but fell back soon, unable to keep the momentum. Meanwhile, RSI is continuing with its moderate streak despite showing some upside momentum.
Shiba Inu Stock Prediction
At the moment, Shiba Inu has fallen back and trading above the $0.000009 mark, which might see some upward momentum. If it succeeds in sustaining this, it will forge ahead to conqueror the $0.0000095 level.
Once this happens, it will be in a psychological pressure point to reach the $0.000010 resistance level. If Shiba Inu maintains that level, it will surge ahead to the $0.0000105 mark.
In terms of support, Shiba Inu will get comfort at the $0.0000085 level, and if it goes below that, it will have to find support at the $0.000008 level. Below that point, it will be a murky and testing situation as it moves to the $0.0000077 level for support. The next support level is relatively low at $0.00000745.