Shiba Inu Price Prediction: Shytoshi Kusama Comments On Kraken’s SHIB Futures Collateral As Analysts Say This Is The Best Crypto To Buy Now

On Aug 30, 2024

Join Our Telegram channel to stay up to date on breaking news coverage

The Shiba Inu price dropped by a fraction of a percentage in the last 24 hours to trade at $0.00001401 as of 03:45 a.m. EST on trading volume that dropped 4% to $196 million.

This comes as a prominent Shiba Inu lead developer, famous under the pseudonym Shytoshi Kusama, addressed the meme coin community on X as he celebrates the SHIB token’s new exposure on Kraken.

😇 https://t.co/h2ujVqxAu7
— Shytoshi Kusama™ (@ShytoshiKusama) August 29, 2024

Kusama shared a tweet published by Kraken, which says that SHIB has been added as new collateral for futures traded on Kraken Pro.

According to the tweet, SHIB can now be used to access more than 200 perpetual futures contracts on Kraken.

Shiba Inu Price Ready For A Bullish Reversal

According to GeckoTerminal data, the Shiba Inu price has been on a downtrend since Aug. 25, when the bears took control of the price at $0.00001601. SHIB then found support around $0.00001350, and the price of Shiba Inu soared back to the $0.00001449 resistance, forming a rounding bottom pattern.

However, the Shiba Inu price invalidated the pattern’s bullish prospects, diving back to the $0.00001392 support. SHIB seems to be rebounding from this level, which could complete a cup and handle pattern and exert some bullish pressure on the meme coin’s price.

The price of SHIB now trades slightly above the 50 Simple Moving Average (SMA) on the 1-hour chart, affirming the current bullish stance. If this rally continues, SHIB could continue soaring and breach the 200 SMA at $0.00001450, which is now acting as the immediate resistance.

Additionally, the Relative Strength Index (RSI) seems to be rebounding from the neutral zone as it climbs back to the 50-midline level, which shows that buying pressure is building up at this level.

According to the Shiba Inu 1-hour chart analysis, SHIB is gearing up for a bullish rally, as the bulls target $0.0000150.

However, if the bears gain control of the price at this level, the price of Shiba Inu could plunge back to $0.00001350.

Meanwhile, many Shiba Inu lovers are shifting to another worthy alternative by the name of Shiba Shootout (SHIBASHOOT).

According to the crypto channel 99Bitcoins, with more than 705K subscribers, investors who buy SHIBASHOOT stand to earn “insane rewards.“

Shiba Shootout Presale Blasts Past $1.05 Million, Best Alternative To Buy Now?

Shiba Shootout isn’t cooling its peacemaker barrel anytime soon, as its presale hits the bullseye with $1.05 million raised and counting.

With fundraising efforts running for just over a month, this new meme coin project has the momentum to attract a few million dollars more as the presale continues to sizzle.

The project goes beyond the conventional limits of meme coins, taking the holder on a captivating adventure filled with creativity, strategic gameplay, and the allure of a cowboy’s high-stakes showdown.

Master #Crypto strategy with #Shiba cowboys in thrilling duels for big rewards! 🌟 Join the adventure!
Sign up now to get your free $SHIBASHOOT tokens!
Jump in the fun! 🚀 https://t.co/jCeu7XMBqR pic.twitter.com/YjlGaaluBT
— shibashootout (@shibashootout) June 28, 2024

The game is built around the town of Shiba Gulch, a bustling digital settlement that is a favorite with Shiba lovers who come together to challenge each other.

Apart from P2E crypto gaming in Shiba Gulch, SHIBASHOOT holders can also earn passively through the platform’s staking mechanism, which offers 893% in annual rewards.

If you don’t want to miss this presale, you can buy the token for $0.02. However, you might want to hurry, because the meme coin’s price will increase in less than three days.

You can buy SHIBASHOOT tokens on the official website here using ETH, BNB, USDT, or a bank card.