The crypto space has calmed down a little after undergoing a massive rally in the past couple of days. As Bitcoin price headed very close to $70,000, many other altcoins like Ethereum, Polygon, Solana, etc followed. Despite the market appearing to be pretty bullish, yet Shiba Inu price remained seemed to have cemented at certain levels. However, if the circulating rumours come true, then SHIB price may lead to yet another notable rally soon.
Robinhood On The Brink Of Listing Shiba Inu?
The rumours of Robinhood listing Shiba Inu is circulating ever since the meme token initiated its trade on Coinbase Pro. The ShibaArmy coiled up together to push the need of listing on Robinhood. Yet no confirmations or any sign of positive developments were witnessed. In a recent move, many indications point out that the listing may be on its toes.
Ever since the SHIB price eliminated a zero and ranged more tha 300%, the campaign to request the listing has again surfaced the water. Amid the petition requesting the listing outspread in the space, Robinhood itself signals listing to be very soon. A popular Stock Market and Crypto Market Analyst, Del Crxpto broke the news of listing to his 278K followers recently.
They say the atmosphere at @RobinhoodApp is high tension, as company heads fear further SEC trouble can result from leaked info regarding $SHIB launching on the platform.— Del Crxpto (@DelCrxpto) October 21, 2021
According to the analyst, the environment regarding the listing is very much heated up & tense within Robinhood. As the platform fears an action from SEC due to the leaked info on the listing. Moreover, the insider source from the Robinhood team revealed that the infrastructure is in place to launch SHIB as the work on the backend and frontend is at lightning speed.
An email is reportedly being circulated which is said to be from the Robinhood team which claims the listing to be on the toes. Also, a survey on the App is also making rounds that intend to know the crypto their customers are dealing with in the past 3 months. Interestingly, Shiba Inu has made into the options provided.
Shiba Inu(SHIB) Price Analysis
The asset in the recent past underwent a nearly 300% rally in just 3 days and successfully attained levels above $0.00003000. No doubt it did experience a slight pullback, still standing strong above $0.00002700. And hence showcasing the resurgence of the bull rally very soon which aims to kill yet another zero.
The price is trending within the descending parallel channel ever since it attained the monthly highs. The strong resistance lies between $0.00002880 and $0.00003022 and hence piercing through these zones is mandatory. But the point to be noted is that the price faced multiple rejections very close to $0.00003000 and huge induced liquidity may only uplift the price.
Collectively, it is been assumed that the whales are pressurizing the retail traders to sell off their assets quickly. Therefore, analyzing the narrow trend of Shiba Inu price, traders may just close their positions. However, if the rumours come out to be true, then SHIB price may explode with a blast eliminating another couple of zeros very soon.