Cointime

Cointime

Download App
iOS & Android

Shiba Inu Price Prediction as SHIB Gets Accepted on New Virtual Prepaid Card – Time to Buy?

Despite a pullback from earlier session highs in the broader cryptocurrency market on Thursday, dog-inspired meme coin Shiba Inu (SHIB), which lives as an ERC-20 token on the Ethereum blockchain, is pushing higher. The crypto token, which is the second most popular meme coin after Dogecoin, was last trading in the region of 3.0% higher on the day, and is up around 9% since bouncing from its 21-Day Moving Average on Wednesday ahead of the not-as-hawkish-as-feared Fed meeting.

Some analysts are saying that recent news that Canadian crypto payment gateway FCF Pay has added the main Shiba Inu ecosystem tokens (SHIB, LEASH and BONE) to its prepaid Visa and Mastercard cards is giving Shiba Inu a boost. FCF Pay cardholders will now be able to preload their cards with up to $5000 worth of SHIB, LEASH and BONE, as well as other cryptocurrencies like Bitcoin and major stablecoins.

SHIB Primed to Explode?

SHIB/USD was last changing hands around $0.0000125, up an impressive more than 50% since the start of 2023. And the gains could be about to accelerate. Shiba Inu is currently testing a downtrend linking the August and October 2022 highs. Given how well SHIB/USD has been supported during pullbacks to its 200DMA and 21DMA in recent weeks, buying pressure appears to be building, suggesting a break above the key long-term downtrend and January’s highs in the $0.000013 area is looking more likely.

That would open the door to a rapid run towards the October high in the $0.0000152 area, and then potentially on towards the August highs just below $0.000018. Technical and broad crypto tailwinds aren’t the only potential sources of support for the meme cryptocurrency.

Upcoming Shiba Inu Projects to Provide Long-term Tailwinds

Shiba Inu developers are working on a number of cool projects that look set to add significant utility to the SHIB token this year. These include Shiba Inu’s own Ethereum scaling solution blockchain called the Shibarium – this blockchain, which will be built as a layer-2 extension of the Ethereum blockchain, will use SHIB as its native token and will hopefully result in 1) lower gas fees and 2) faster growth of the Shiba Inu web3 ecosystem.

Developers are also working on lots of other cool projects like a Shiba Inu metaverse. Given the cryptocurrency’s massive and highly supportive community and impressive development efforts, investors are likely to be increasingly drawn to SHIB in 2023, viewing it as more than just a way to make a quick buck, and viewing it instead as an investment in a long-term, valuable crypto project.

Shiba Inu Shiba Inu $0.00
+1.2%
Shiba Inu SHIB
Comments

All Comments

Recommended for you

  • A wallet address spent 27 SOL to buy KM, with a floating profit of about $650,000

    after changing his nickname to "Kekius Maximus", Elon Musk's Solana-based meme coin, KM (Kekius Maximus), grew 100 times. A wallet address spent 27 SOL (about $5,200) to buy 18.1 million KM, which is now worth $655,000 with a return on investment of 126 times.

  • Scam Sniffer: Superchain Eco official X account was stolen and released phishing links, please be aware of the risks

    according to Scam Sniffer, the X account of Superchain Eco (@SuperchainEco) has been hacked and a phishing link has been released. Users should be vigilant of the risks.

  • South Korean court approves arrest warrant for current President Yoon Seok-yeol

    on that day, the South Korean court approved an arrest warrant against Yoon Seok-yeol on charges of insurrection. It is reported that this is the first arrest warrant issued against a sitting president in the history of South Korean constitutional politics. On the 30th, the "Joint Investigation Headquarters" composed of the Korean Senior Public Officials Crime Investigation Department, the police, and the Ministry of National Defense Investigation Department submitted a request to detain President Yoon Seok-yeol to the Seoul Western District Court. The Korean Senior Public Officials Crime Investigation Department has issued three summonses to Yoon Seok-yeol on suspicion of "insurrection leader" and "abuse of power to obstruct the exercise of rights", but Yoon Seok-yeol has not responded. According to the South Korean "Criminal Procedure Law", if the suspect has no justifiable reason to refuse to accept the investigation request, or may not accept the investigation request, the investigation agency can apply to the court for an arrest warrant and conduct a forced investigation on the relevant personnel.

  • ETH breaks through $3,400

    market shows that ETH has broken through $3400 and is now trading at $3400.38, with a 24-hour increase of 1.28%. The market is volatile, so please be prepared for risk control.

  • A trader spent $3,400 to buy 24.566 million AIXBT in early November, and now has a floating profit of $12 million.

    on November 4th, a trader named "0xgalahad.eth" exchanged 9,000 VIRTUAL tokens (worth $3,400) for 24.566 million AIXBT tokens. Afterwards, they joined a liquidity pool and did not sell their AIXBT tokens. It is estimated that their profit is around $12 million, with an investment return rate of 3,549 times.

  • Cointime July 14th News Express

    1. Biden-related Meme Coin BODEN has dropped 6.5% in the past 24 hours

  • SHIB to change leadership and hand over project control to the community by year end

    Shytoshi Kusama and Kaal Dhairya, the anonymous chief developers of the Memecoin project Shiba Inu (SHIB), have given their first interview to the Arabic Business News. Kusama stated that he entered the cryptocurrency industry because of the influence of a super-rich passenger while driving for Uber, and then contacted Ryoshi, the anonymous creator of SHIB. Kusama aims to make SHIB the killer of Dogecoin and wants it to become "the world's first decentralized entity worth trillions of dollars". He pointed out that currently less than 5% of the world's population use cryptocurrency, and Meme will become the gateway to cryptocurrency and blockchain. Kusama and Dhairya have not given up their anonymous plan. In addition, they plan to transfer control of the project to the community by the end of this year, and by the end of the year, there will be a special committee to lead certain things. They both believe that it is not necessary to disclose their identities and said, "We can sit in this coffee shop, there are no security guards outside, and no one recognizes me. This is actually more valuable than any money."

  • 2 wallets deposited 211 billion SHIB into Coinbase within 10 hours

    According to The Data Nerd's monitoring, within 10 hours, 2 wallets (with the same amount of SHIB) deposited a total of 211 billion SHIB (about 5.16 million US dollars) into Coinbase. These wallets accumulated these SHIBs last week, and if sold at the current price, it would cause a small loss (about 120,000 US dollars).

  • Nearly 90 million SHIB removed from circulation in the past 24 hours

    Nearly 90 million SHIB tokens were removed from circulation in the past 24 hours, and Shiba Inu's burning rate surged by 50,000%.

  • A large-scale transfer transaction of over 30 trillion SHIB occurred on the Ethereum chain, worth nearly US$50 million.

    Whale Alert monitored that around 7:47 on March 2nd Beijing time, an address starting with "0x73af" transferred 3,023,255,579,400 SHIB tokens to an address starting with "0x40b3" on the Ethereum chain, worth approximately $49,933,096.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company