Shiba Inu (SHIB) rebounded after a week of volatile price action and closed its first daily green candle on November 11 after a long break. According to veteran cryptocurrency expert Michael van de Poppe, the next “critical resistance to break” for SHIB is in the $0.00006275 region. The analyst also highlights a possible second wave of demand on the SHIB chart. Details Cryptocoin. com
SHIB price predictions
On November 3, SHIB’s market cap was $35.14 billion before falling to $27.8 billion on November 10, with a market cap loss of $7.26 billion during that time. Michael van de Poppe says the first critical resistance for SHIB is $0.00006275. The analyst also identified $0.00004375 as a potential demand zone. This is because SHIB is testing this level of support after the initial crash; As a result, the professional crypto trader says that $0.00004375 and around may be suitable for those who want to enter.
Shiba Inu listed on CoinDCX
In another important development, the CoinDCX crypto exchange, used by more than 6 million Indians, announced on Friday that it will list the Shiba Inu. If the meme token is accepted for listing on leading retail trading platforms, SHIB will have the opportunity to reach more users. SHIB was already lobbying to be listed on Robinhood exchange. Also, considering that meme coins are community-focused cryptocurrencies, upward pressure in price can be expected, according to analysts.