Can Shiba Inu Skyrocket And Reach $0.001? BONE and USDC Purchases with Visa Now Live on Shibarium
Shiba Inu has jumped by 2% today, with its price rising to $0.00001389 after its Shibarium L2 network rolled out BONE and USDC purchases via Visa or Mastercard.
This puts SHIB up by 1% in a week, with the crypto market as a whole enjoying a 4% gain in the past 24 hours.
Yet the meme token remains down by 20% in a month, and while it holds onto a 32% increase in a year, this is relatively modest in relation to other major coins.
As such, holders may hope that today’s news may be the kind of thing that underlines Shiba Inu’s fundamentals, and helps boost its price in the medium- and long-term.
SHIB’s chart is very interesting today, because while its indicators aren’t particularly bullish, its resistance (red) and support (green) levels are just about touching each other.
Normally, this kind of convergence predicts a breakout, with SHIB having traded in an increasingly narrow range over the past couple of weeks.
Its other indicators certainly don’t preclude a breakout, given that they aren’t close to overbought territory.
Its RSI (purple) sits at a very average 55, although it has lifted in the past hour or so, hinting at an incoming rally.
At the same time, its 30-period moving average (orange) has remained below the 200-period average (blue) for several days, something which normally indicates that a given asset should rebound.
One thing that’s concerning is that Shiba Inu’s 24-hour trading volume is only $150 million today.
It’s therefore to be hoped that today’s news regarding Shibarium can serve as a catalyst for higher demand for SHIB.
You can now buy $BONE and $USDC with Visa/MasterCard on Shibarium
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