Search ForexCrunch
  • Coinbase Taking Steps to Add Shibu Inu in Coinbase Custody
  • Shiba Inu price is trading near $0.00000616 with a 24-hour trading volume of $180,166,868.  
  • SHIB/USD traders may look for buying above $0.0000060 levels to target $0.0000066 and $0.0000069.

The SHIB/USD pair extended its early-day losing streak and drew additional offers near the $0.00000615 level. The users of the Shiba Inu community have been waiting for the official announcement from Coinbase. The meme coin is to be added to the cryptocurrency exchange’s professional trading platform. Shiba Inu price prediction remains bearish, and sharp selling can be seen below the $0.0000060 support level.  

Bearish Crypto Market Dragging Shiba Lower to $0.0000060

The downfall in the SHIB could also be attributed to the dull crypto mixed market condition. The world’s biggest cryptocurrency, Bitcoin, and other coins have been falling since the week started. Therefore, other cryptocurrencies like Dogecoin, Shiba Inu, and Ethereum following bitcoin’s downward lead.  

At this time, the Shiba Inu price is trading near $0.00000616 with a 24-hour trading volume of $180,166,868. Shiba Inu has dropped by 1.12 % in the last twenty-four hours.  

Coinbase Taking Steps to Add Shibu Inu in Coinbase Custody

Coinbase has taken a step in that direction by adding support for SHIB to Coinbase custody. But that does not translate to a listing. Coinbase custody is a platform on which users can store their cryptocurrency assets via cold storage hardware wallets, offline vs. hot wallets that hold assets online.  

Furthermore, the custody platform is also registered and overseen by the New York regulator, the NYDFS. Thus, the Shiba Inu investors are hoping for an upcoming Coinbase Pro listing. That type of progress would bring more attention to the project and potentially push the SHIB price. So, the positive development surrounding Shiba Inu could help its prices to limit more profound losses.  

Besides, the U.S. dollar weakness, triggered by the risk-on market sentiment, was also seen as another critical factor that kept the lid on any additional losses in the SHIB/USD pair.

Shib Inu Price Forecast
SHIB/USD 4-Hour Chart

Shiba Inu Price Prediction – Daily Technical Levels

Support Resistance

0.00000606 0.00000672

0.00000582 0.00000714

0.00000540 0.00000738

Pivot Point: 0.00000648

Shiba Inu Price Prediction – Technical Analysis: SHIB Retests $0.0000060

Shiba Inu price prediction will be bearish upon breakout of 0.0000060 levels as SHIB/USD has failed to break below this level so far.  

The closing of a 4-hour candle with a long shadow is suggesting weakness in the selling bias. Next to it, the SHIB/USD has closed a bullish candle that’s likely to end up “Inside Bar Up” pattern on the 4-hour chart.

 The 50 moving average (M.A.) is also supporting a bullish bias in SHIB at 0.0000062 levels. At the same time, the oscillator indicator Stochastic RSI has entered the oversold zone, suggesting odds of a bullish reversal.  

SHIB/USD can exhibit buying trend over 0.0000060 levels to target 0.0000066 and 0.0000069 levels. Selling can be expected if it manages to cross below 0.0000060 levels.  

The SHIB/USD price prediction is bearish today. Thus, the  forex trading  participants may look for selling below $0.0000060 levels to target 0.0000058 and 0.0000057. All the best.  

Looking to buy or trade crypto now? Invest at eToro!

Capital at risk

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.