It looks like the Shiba Inu has found support near the $0.000111 area, holding it above this key level over the past 11 days since May 14. The current structure of consolidation on the Shiba Inu’s daily chart is similar to its price action at the end of January 2022, after which it has increased in price. It rose almost 100% to a high of $0.0000035 on February 7.
While the Shiba Inu continues to rely on its new support near $0.0000011, if the price declines from the current levels, the Shiba Inu may spend some more time in the range between $0.0000104 and $0.0000014. The next major move could start after the price breaks above or below the price range.
If buyers push the price above $0.0000014, the Shiba Inu could attempt a rally to $0.0000196, which could act as a hard hurdle. Alternatively, if the price declines and breaks below $0.0000010, the pair may retest the support level of $0.000008 on May 12. Shiba Inu enthusiasts continue to view $0.001 as a potential price target, holding on to the expectation that the Shiba Inu can put up an impressive performance. Rally, as it did in 2021 when it rallied millions of percent.
The Shiba Inu is currently trading down 1.18% at $0.0000115.
Shiba Inu will appear on the jersey of Argentina-based soccer team as adoptions grow
Equipo de Ftbol “El Talita Cid” Yusara el Logo de in Argentina #shibo en su indumentaria.. Proximamente mas novedades y videos
— Shiba Inu Army Arg (@ShibaInuArmyArg) 24 May 2022
The football team based in Argentina will use “El Talita Cecíd”. #shibo logo on its clothes. More news and videos coming soon pic.twitter.com/eeuORLTbAE
As shared by shibanuart, the adoption process of the Shiba Inu continues to grow football team “El Talita Cecid”, based in Argentina, will use the Sheba logo on its clothing.
Shiba Inu also welcomes Marcy Jastro, who is joining the Shiba Inu Metaverse team as an industry veteran with over 20 years of experience in the entertainment industry. As an early pioneer in immersive tech, Marcy built and led the immersive team for Technicolor and its brands. The evolution of SHIB: The Metaverse will lead to great partnerships, with Marcy expected to contribute significantly.
According to IntoTheblock, Shiba Inu’s large transactions, referring to transactions above $100,000, increased by 7%. Large transactions often indicate whale or institutional activity. according to this whalestatsETH whale “bluewhale0073” recently bought 86,740,251,500 SHIB worth $1,015,728.