Shiba Inu Moves Closer to Everyday Use in Japan
- Platform Expansion: Rakuten Wallet announced the listing of Shiba Inu for trading against the Japanese yen, allowing users to purchase SHIB with Rakuten Points, thereby linking it to over five million merchants in Japan and significantly enhancing its potential for everyday payment use.
- User Base: With approximately 44 million users on Rakuten Pay, the integration exposes Shiba Inu to a broad audience unfamiliar with cryptocurrencies, driving its adoption in the Japanese market.
- Loyalty System Connection: The integration connects SHIB to one of Japan's largest loyalty systems, with over $23 billion worth of Rakuten Points in circulation, enabling users to earn and spend SHIB, further enhancing its practical use cases.
- Price Reaction: Ahead of the expected listing, Shiba Inu's price reached $0.000006 on April 14, and while currently trading at $0.0000005834, down 0.02% from the previous day, it remains above the 50-day moving average, indicating some underlying support.
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Technical Analysis for MOVE
Technical Sentiment Analysis for Movement (MOVE). As of , Movement (MOVE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 10 technical signals, shows that 4 indicators are flashing buy, while 6 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MOVE 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, MOVE 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 $-.
Movement (MOVE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.014 | 0.0153 | 0.0166 | 0.0179 | 0.0192 | 0.0205 | 0.0218 |
| Fibonacci | 0.0153 | 0.0163 | 0.0169 | 0.0179 | 0.0189 | 0.0195 | 0.0205 |
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