Rakuten Wallet to List Shiba Inu Cryptocurrency
- Utility Enhancement: Rakuten Wallet's announcement to support Shiba Inu (SHIB) trading allows users to utilize SHIB for everyday purchases at over five million retail outlets in Japan, significantly elevating its status as a practical currency.
- Large User Base: With approximately 44 million registered users, Rakuten's payment system makes the integration of Shiba Inu one of the most extensive real-world applications of a digital asset in Japan, promoting the use of cryptocurrencies for regular transactions.
- Points System Integration: Customers can purchase Shiba Inu using Rakuten Points and Cash, with the points system circulating over $23 billion, effectively linking cryptocurrency with traditional consumer spending and enticing more users to participate.
- Positive Market Reaction: Despite Shiba Inu's price volatility, peaking at $0.000006 before retracting to $0.0000005834, the market perceives the broader adoption of Shiba Inu positively, indicating strong anticipation for this integration.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000529 | 0.00000552 | 0.00000573 | 0.00000596 | 0.00000617 | 0.0000064 | 0.00000661 |
| Fibonacci | 0.00000552 | 0.00000568 | 0.00000579 | 0.00000596 | 0.00000612 | 0.00000623 | 0.0000064 |
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