Shiba Inu has been making headlines in recent weeks due to its huge earnings. The appreciation of the token's price also earned it the name of "Doge killer", with some analysts believing it could soon replace dogecoin in terms of dominance among canine tokens (not teeth, dogs!). Over the past 24 hours, SHIB has done incredibly well and gained around 23,6% to hit $ 0,000000887 at the time of writing.
SHIB price analysis
SHIB has gained a lot in the past 24 hours to reach a notable position on a 24 hour trading chart. On June 15th, SHIB was added by Coinbase Pro as one of its tradable tokens and this increased its value. After quotation on Coinbase, SHIB is up more than 30% to start trading at $ 0,0000092. However, he held out to a higher level and withdrew his current position.
The drop in the past few hours may have been caused by a price correction after people over-bought the token after its listing. However, its current price is still above the solid resistance level of $ 0,00000770.
Despite the huge 24-hour gain, SHIB still has a long way to go to reach the May high of $ 0,00001212. SHIB must hold a level above the May 19 low of $ 0,000000607 to outrun the bears. However, a pullback beyond the May 19th low could create a massive selloff and create an entry point.
SHIB's earnings aren't just in its prices. The token has made huge gains in the broader cryptocurrency market. On June 10, real-time listing data revealed that the token was ranked in the top ten crypto assets with the highest price estimates. The metrics show that SHIB price estimates were 9864, at an average price of $ 0,00001143.
However, the market is not all in favor of SHIB. In Thailand, cryptocurrency exchanges were banned from offering doge tokens because the country's SEC said their values were affected by market forces. The SEC's claims may be a result of dogecoin and SHIB's growing popularity attributed to tweets from cryptocurrency players in China.
The popularity of SHIB has led to the dog token being accepted in major exchanges and is now listed on Binance, OKEx, FTX and now on Coinbase.
Where to buy SHIB
To buy Shiba Inu, you must use the following exchanges:
- eToro
One of the most popular exchanges that you can buy SHIB from is eToro. The exchange is favorable to novice traders because it allows them to copy the trade and then follow the actions of experienced traders. This increases their chances of making a profit.
- Binance
The other exchange that supports Shiba Inu is Binance. In terms of trading volumes, Binance is the largest cryptocurrency exchange. It supports over 100 cryptocurrency trading pairs, making trading convenient.
eToro is a multi-asset investment platform. The value of your investments may rise or fall. Your capital is at risk
