Shiba Inu (SHIB) is trading down 4% at $0.000012 just like the rest of the market. Shiba Inu’s burn rate is demonstrating an increase of 1119% as millions of SHIB are sent to dead addresses. In the last hour, 50 million SHIB were sent to dead addresses in a single transaction. The U.S.-based eCommerce platform, BigCommerce, now accepts Shiba Inu as payment. BigCommerce, a NASDAQ-listed eCommerce platform, recently announced its partnership with the crypto payment processor BitPay to allow its merchants all across the world to accept cryptocurrencies easily and in the most secure way. Tens of thousands of merchants from over 150 countries might be able to accept Shiba Inu (SHIB) and 14 other major cryptocurrencies that Bitpay accepts through the partnership.
Key Levels
Resistance Levels: $0.00002050, $0.00001800, $0.00001300
Support Levels: $0.00001200, $0.00001000, $0.00000713
SHIB/USD Daily ChartThe SHIB/USD is still trading below $0.00001300, indicating an ongoing neutral intraday bias. Another drop is likely, as the breached support level of $0.00001200 remains a weak one. A decisive bullish return above $0.00001300, on the other hand, will remove all threats and re-establish all previous gains from $0.00001000.
On the further decline, the mid-term support level of $0.00001000 may be the next target. A total break of revised support at $0.00001200, on the other hand, could energize the downtrend and broaden the range from 0.00001200 with a new drop phase. Buyers of SHIB/USD are battling the $0.00001200 level. The longer downside pressures persist, the more likely a downside correction is.
SHIB/USD 4-Hour ChartBearish traders are expected to push the SHIB/USD lower during the upcoming trading session as the cryptocurrency rate fell below $0.00001200. On the contrary, the breached $0.00001200 support level may be able to keep the cryptocurrency rate from falling further in the short term. A further decline is expected as long as the resistance level at $0.00001300 holds.
A break above $0.00001300 could lead to a return to the short-term high of $0.00001394 to $0.00001479 at $0.00001400. Trading above this level could take you to the next target of $0.00001500. A sustained breach of $0.00001200, on the other hand, could indicate that the rebound from $0.00000713 has ended, returning attention to the low.
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