The market recorded gains in the last 24 hours, with Bitcoin and the majority of altcoins trading in green at press time. The sentiment is mixed as investors await the Fed’s next meeting, which will conclude with the central bank’s latest interest rate decision on Wednesday. At press time, Shiba Inu is trading at $0.00001185, up 2.95% over the last day. WhaleStats reported that the 168th biggest ETH Whale named “Boromir” has just accumulated a staggering 120,000,000,000 SHIB, worth $1,450,800 in one significant transaction in the past 24 hours. As per data provided by Etherscan.io, the massive purchase was made through Turkey’s leading cryptocurrency transaction platform, Paribu about 12 hours ago from press time. In a recent Telegram message, Shiba Inu lead developer Shytoshi Kusama advised Shiba Inu community members to “keep popcorn on ready.” While Kusama did not share a follow-up message, SHIB holders think the project’s lead developer is asking them to prepare for the imminent launch of Shibarium
Key Levels
Resistance Levels: $0.00001816, $0.00001518, $0.00001300
Support Levels: $0.00001100, $0.00001000, $0.00000950
SHIB/USD Daily ChartThe SHIB/USD pair appears to have maintained in a range for the time being, with any significant move higher remaining elusive. As a result, any subsequent uptick is more likely to be met by additional resistance in the $0.00001300 area. As a result, additional SHIB/USD gains near the $0.00001200 round-figure marks should be restrained for the time being.
If the previous count is true, SHIB/USD may hold over $0.00001150 and rise past $0.00001300 shortly. The price will move to the $0.00001500 zone if the immediate resistance level of $0.00001300 is breached. Remember the horizontal barrier breakouts are very sharp, and the next level will be quickly attained.
SHIB/USD 4-Hour ChartIn the short term, SHIB/USD is ranging after recovering above the 4-hour moving average (MA 50) at $0.00001175. The pair’s intraday bias has maintained above the $0.00001100 region, down from the $0.00001195 level. A decisive break to the upside would indicate a bullish turnaround and would lead to extended gains toward the $0.00001300 resistance level, which would be tested.
The break of immediate support at $0.00001100, on the other hand, could be the goal of retests of the $0.00001000 low. The initial level of support is $0.00001150. The next level of support is at $0.00001100, followed by $0.00001000. Its 4-hour relative strength index (RSI) is hovering above midline 50, indicating that the SHIB/USD may rebound further.
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