Shiba Inu (SHIB) Climbs Higher After the Robinhood Listing

Shiba Inu (SHIB) Climbs Higher After the Robinhood Listing

 Published: April 14th, 2022

The Shiba Inu metaverse has just arrived, allowing investors to meet one another and participate in games, virtual land, and NFTs. The price of SHIB/USDT shoots higher by 35% after the Shiberse launch and its listing on Robinhood, which is still holding its 21% gain. As a result, many analysts have predicted that the new metaverse will allow Shiba Inu to face a similar price growth seen in the last two years. In 2021, Shiba Inu showed a brutal increase of 43,800,000% before losing 74% of its value from the historical peak in October 2021.

However, the real impact of a metaverse in a meme currency is not clear yet, but as giant companies like Facebook, Instagram, and WhatsApp, are betting on the metaverse of Meta Platform, it would create a comfort zone for people around the world. Another bullish sign for Shiba Inu fans is its listing on popular stock and crypto trading platform Robinhood. The online broker has announced that they have allowed buying and selling cryptocurrencies like SHIB, COMP, SOL, and MATIC through their app and website.

Currently, there are 549,063.28B SHIB in supply with a market cap of $14,502,638,432. Let’s see the future price direction from the SHIB/USDT technical analysis.

SHIB/USDT Daily Chart

Shiba Inu (SHIB) Daily Technical Analysis 14th April 2022

In the SHIB/USDT daily chart, the price remained corrective from the beginning of 2022, where the current range between 0.0000300 to 0.0000207 plays a vital role. However, in February, the price made a bullish break of the structure by creating a new swing high at 0.0000351 before trading within a triangle. After that, the symmetrical triangle breakout happened in the buyers’ direction, but the price failed to breach the 0.0000300 resistance level in the daily candle.

The above images show how the price formed a bearish channel breakout during the Robinhood listing that failed to show any decisive break above the near-term resistance level. However, the current price remained corrective above the dynamic 20 EMA while the RSI trades above the neutral 50 level.

Investors should find a bullish daily candle above the 0.0000300 level before going long in this pair based on the daily structure. As the dynamic level and RSI support bulls, the buying attempt may extend the momentum towards the 0.00004795 level in the coming days. On the other hand, the buying possibility is valid as long as the price trades above the 0.0000207 level, which is the ultimate barrier for bulls.

SHIB/USDT H4 Chart

Shiba Inu (SHIB) H4 Technical Analysis 14th April 2022

According to the Ichimoku Cloud analysis, the recent upside pressure took the price above the dynamic Cloud, pointing out a change in the price trend. However, the exhaustion from the 0.0000250 static level and volatility above the cloud support signify uncertainty in the price. In the future cloud, the Senkou Span shifted its direction above the Senkou Span B, indicating a possible buying pressure in the price.

In the indicator window, the trader dynamic index shows an intense buying pressure in the price where the TDI line is stable at the upper band area. Moreover, the current price is above dynamic Tenkan Sen and Kijun Sen, working as dynamic supports to the price.

Based on the current structure, any bullish rejection candle from dynamic Kijun Sen or static 0.0000250 with an H4 close above the Tenkan Sen would be a potential buying position in this pair. In that case, the primary aim is to test the 0.0000300 static level.

SHIB/USDT H1 Chart

Shiba Inu (SHIB) H1 Technical Analysis 14th April 2022

In the SHIB/USDT hourly chart, the upside momentum is potential as the recent bullish pressure above 0.0000250 has been stable for a considerable time. The price made a new swing high in the hourly chart and remained sideways at the dynamic 20 EMA area. Moreover, the most recent high volume level is closer to the price, indicating a possible breakout.

The above image shows how the MACD Histogram loses its bearish momentum while the MACD line squeezes to the neutral level. On the other hand, the dynamic weekly VWAP is closer to the price, indicating an extreme correction.

Based on the H1 structure, investors should wait for a bullish H1 close above the 0.0000270 to consider the upcoming momentum as bullish towards the 0.0000300 level. On the other hand, the break below the 0.0000250 level would alter the current market structure and initiate a deeper correction towards the 0.0000218 level.

Should You Try Buying SHIB/USDT?

Based on the current multi-timeframe analysis, Shiba Inu (SHIB) has a higher possibility of moving towards the 0.0000470 with a 77% price surge. On the other hand, the current price is still corrective where an intraday buying pressure is needed before going long in this pair.

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