SHIB Price Analysis: What’s Next As Shiba Inu Posts 30% Rebound? SHIB’s Ecosystem Sees New Exchange Listings

• Shiba Inu is posting a 30% rebound after three days of consecutive losses
• The SHIB ecosystem tokens SHIB, BONE, LEASH deposit, and trading is now available on Catex Exchange
• At the time of post, SHIB was trading up at a current price of $0.00005711

Shiba Inu is posting a 30% rebound after three days of consecutive losses. Contributing to the sell-off were recent speculations about whales’ holdings and that of Kraken exchange reneging its promise to list SHIB. Experts do not seem to believe that much would have been gained even if the listing did occur despite the disappointment this generated. There however seems to be more to look out for on the SHIB token. Brandon King, who plays for the New England Patriots of the National Football League took to Twitter to say that he is buying more SHIB coins. The SHIB ecosystem tokens SHIB, BONE, LEASH deposit, and trading is now available on Catex Exchange as LEASH also went live on the Poloniex exchange. Meanwhile, the petition on Change.org that asks for SHIB to be listed on the Robinhood app has gained nearly 500,000 signatures. At the time of post, SHIB was trading up at a current price of $0.00005711

Key Levels
Resistance Levels: $0.00008870, $0.00007805, $0.00006095
Support Levels: $0.00004277, $0.00003535, $0.00002360

SHIB/USD Daily Chart: Ranging

SHIB/USD Daily Chart

After a solid rally in late October to all-time highs of $0.000088, Shiba Inu fell prey to profit-taking. The SHIB/USD momentum eased, but the first important support at the $0.0000579 level survived as seen in a relief rally to $0.0000749 on Nov. 1. The selling returned to touch lows at $0.00004277 before an aggressive bounce to $0.00005878 today. The RSI is pointing up after the touch on the neutral threshold of 50, suggesting positive momentum could pick up.

In this scenario, the $0.000075 and the $0.000088 areas are the next topside reference on the daily chart. However, Shiba Inu will most likely consolidate in the near term ahead of any major move. Alternatively, If selling interest returns, traders could have an eye for the $0.000035 barrier ahead of the MA 50 at $0.0000288.

SHIB/USD 4-Hour Chart: Ranging

SHIB/USD 4-Hour Chart

SHIB extended lower to probe below MA 50 ($0.00006513) until $0.00004277 before a rebound occurred. On the upside, the next major resistance is near the MA 50 at $0.00006513 above which the SHIB/USD pair might rise towards the $0.0000785 and $0.000088 levels. Failure to overcome the MA 50 could send the SHIB price down to the recent support at $0.00004277.

Not far below, the MA 200 at $0.0000388 may also be closely watched. To sum up, the short-term outlook for Shiba Inu remains neutral despite the recent declines. Only a jump above $0.000065 may shift the outlook to bullish or a decline beneath $0.000042 may open the door for more decreases.

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