SHIB for mobile top-ups and online purchases?
Shiba Inu (SHIB) is an Ethereum-based meme coin, inspired by Dogecoin, and was created in 2020 by an anonymous developer known as Ryoshi. Unlike Bitcoin, which aims for scarcity, SHIB was designed to be abundant, with a total supply of one quadrillion tokens. The Shiba Inu ecosystem supports initiatives like an NFT art incubator and the development of a decentralized exchange called Shibaswap.
The popularity of Shiba Inu (SHIB) continues to grow. According to recent news, blockchain solutions provider UQUID has announced that SHIB can now be used for mobile top-ups, online shopping, and in the upcoming SHIB metaverse.
This new integration allows SHIB holders to make purchases online without any location-based restrictions, marking another step toward mainstream acceptance for meme coins. The announcement was made via a tweet inviting users to “dive into the future” with SHIB and UQUID’s AlphaTopup service.
Alpha Mobile Topup, a B2B company powered by UQUID, offers services such as mobile top-ups, data bundles, digital products like e-gift cards and game keys, as well as utility bill payments.
With over 150 million customers served globally through its partner network, this development could significantly enhance SHIB’s use case and public perception.
Shiba Inu’s Cold Wallet to Be Released Soon
Another positive update for the Shiba Inu community, or “Shib army,” is the announcement that Shiba Inu will soon introduce its own cold wallet “if all goes well.” Lucie, a Shiba ecosystem official and content marketing expert, shared the news on Twitter, stating that Switzerland-based blockchain company Tangem has confirmed its collaboration with Shiba Inu to launch a unique cold wallet solution.
Further updates are expected from the official SHIB Twitter account, but Lucie also added:
“Users will be able to store and manage their digital assets, including SHIB, from anywhere in the world, as the new wallet will support over 6,000 currencies. This wallet will also provide access to decentralized finance (DeFi), non-fungible tokens (NFTs), decentralized exchanges (DEX), and more.”
The cold wallet will be the size of a credit card, meaning users won’t need a PC or laptop; only the card and a smartphone will be required.
Since April 16, 2023, the price of SHIB has remained under pressure, with the risk of further decline still in play. According to data from TheBlock, over 70% of SHIB investors are currently facing losses on their holdings. Interestingly, many of these investors purchased the token between $0.000009 and $0.000014.
According to TheBlock, there are 348,170 such addresses holding a substantial total of 281.12 trillion SHIB. This is particularly notable because, at these price levels, Shiba Inu was trading recently, which might suggest that these holders haven’t lost confidence in SHIB’s short-term prospects.
This group of investors is primarily driven by minimal risks when purchasing at these levels, but it’s also important to recognize that the market has shifted its perception of SHIB from a speculative meme coin to a more established digital asset.
The growing Shiba Inu community has helped establish it as a more stable and credible asset, with support from major exchanges like Binance and Coinbase further boosting its legitimacy in the eyes of larger investors.
Технически анализ на SHIB
Shiba Inu (SHIB) has seen a decline from $0.00001186 to $0.00000840 since April 16, 2023, with the current price standing at $0.00000885. On the chart below, I’ve highlighted the trendline. As long as SHIB remains below this trendline, we cannot consider a trend reversal, and the token remains in the SELL-ZONE.
Ключови нива на подкрепа и съпротива за SHIB
In this chart from December 2022, I have marked key support and resistance levels that can help traders gauge potential price movement. While Shiba Inu (SHIB) remains under pressure, if the price rises above the resistance at $0.000010, the next target could be $0.000011.
The current support level is $0.0000080. If the price breaks this level, it would signal a “SELL” and open the way toward $0.0000075. A further drop below $0.0000070, which represents a strong support level, could see SHIB target $0.0000060.
Factors That Could Drive SHIB’s Price Higher
The overall sentiment in the cryptocurrency market will play a crucial role in determining SHIB’s price trajectory. If investor confidence rebounds and the market recovers from recent setbacks, Shiba Inu (SHIB) could experience upward momentum, along with other major cryptocurrencies.
According to technical analysis, Shiba Inu (SHIB) remains in a bear market. However, if the price surpasses the resistance at $0.000010, the next target could be $0.000011, or possibly even $0.000012.
Signs of Further Decline for SHIB
Shiba Inu (SHIB) has dropped more than 25% since April 16, and despite this, market participants should be prepared for another potential downward move.
The macroeconomic environment remains uncertain, with ongoing policy tightening aimed at controlling high inflation, deteriorating financial conditions, and continued disruptions from Russia’s invasion of Ukraine.
Shiba Inu’s price is also closely linked to Bitcoin’s price, and if Bitcoin falls below the $25,000 support level again, it would likely negatively impact SHIB’s price.
Expert Opinions on SHIB
Shiba Inu (SHIB) has weakened by over 25% since April 16. However, according to crypto analytics firm TheBlock, there has been recent buying activity from large SHIB holders. TheBlock reports that many of these investors bought SHIB between $0.000009 and $0.000014, which suggests they might still have confidence in SHIB’s near-term prospects.
Nonetheless, investors should remain cautious, as the cryptocurrency market remains highly volatile, making it difficult to predict price movements even in the short term. Additionally, the risks of market contagion and potential liquidations and bankruptcies could lead to increased selling pressure.
Отказ от отговорност: Cryptocurrency is extremely volatile and may not be suitable for all investors. Never invest money you cannot afford to lose. The information on this site is intended for educational purposes only and should not be considered as financial or investment advice.
