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Crypto.com, a major crypto exchange, recently spotlighted Shiba Inu (SHIB), prompting excitement in the Shiba Inu community.
"Top Memecoin by Market Cap, Coin Number 2 Shibtoken (SHIB), Year Founded: 2020. SHIB was founded by an anonymous person/group called Ryoshi, named after the Shiba Inu dog," Crypto.com posted alongside an image that contained the iconic Shiba Inu logo, its market cap worth and its price change in the last week.
For the Shiba Inu community, this spotlight not only reflects the coin's popularity but also its potential as a serious contender on the crypto market.
The Shiba Inu official X handle reacted to the post, highlighting Shiba Inu's drive to be the top dog coin: "2 today, but the Doge days are numbered."
Further indicating what might be a bunch of surprises ahead, "We've got the Shiba Army Shibarium and secret wags we can't reveal yet. Get ready for a new top doggo. Much wows incoming," the Shiba Inu official X handle wrote.
As the world of cryptocurrencies evolves, SHIB's recent highlight by the crypto exchange is a clear indication that the "Doge killer" is here to stay and thrive.
SHIB price action
After a consistent two days of declines, SHIB picked a rebound at lows of $0.00002366 in today's trading session.
The attempt by the bulls to flip the $0.000023 level into support was seen after SHIB rebounded from this level on March 17. A successful attempt by the bulls would be key to SHIB's recovery above the $0.00003 mark once again.
Given that the $0.000023 level marks the lower end of Shiba Inu's present consolidation range, a breach might lead to further declines, potentially targeting the $0.000019 level.
According to IntoTheBlock data, where SHIB currently trades, 95.11 trillion SHIB were bought in the range of $0.000023 to $0.000030 by 133,040 addresses at an average price of $0.000026.
At the time of writing, SHIB was up 4% in the last 24 hours to $0.000026.On the upside, the next major resistance for SHIB lies in the range of $0.000031 and $0.000037, where 33.38 trillion SHIB were bought by 143,710 addresses at an average price of $0.000033.
Arman Shirinyan
Alex Dovbnya
