Shiba Inu Price Set To Skyrocket After SHIB Was Listed On A Leading Brazilian Exchange

After a slice above a major resistance barrier, Shiba Inu pricing has projected a 14 percent rise, reports FXStreet.com.

On February 16, the Dogecoin competitor is anticipated to be listed on a major Brazilian cryptocurrency exchange, potentially boosting the token’s price.

Price Objectives For Shiba Inus Are $0.00003708

On February 16, Shiba Inu will be listed on Foxbit, a major Brazilian crypto market. It is one of the oldest digital asset exchanges in Latin America, having been founded in 2014. With more than 950,000 registered consumers on the exchange, the price of SHIB could rise even higher.

Shiba Inu price has sliced above the upper boundary of the falling wedge formation, signalling a 54 percent rise to $0.00003708. To attain the optimistic target, SHIB bulls are shooting for a 14 percent gain.

The 23.6 percent Fibonacci retracement level at $0.00003411 could be the first line of resistance, followed by the 100-day Simple Moving Average (SMA) at $0.00003550 as the second line of resistance.

If the bulls actually hit the previously suggested bullish goal of $0.0003708, purchasers may then aim for the 38.2 percent Fibonacci retracement level of $0.00004467.
Shiba Inu price goal $0.00006174 at the 50% retracement level may be reached if even higher aspirations are combined with a surge in buy orders. 
 
If selling pressure increases, the Shiba Inu price may fall to $0.00002854, the 50-day SMA, as immediate support.
If this level fails to hold, SHIB might fall further lower below $0.00002599, the 200-day SMA.

Shiba Inu price may fall toward the 21-day SMA at $0.00002381, near the top boundary of the ruling technical pattern, if sell orders increase. If bearish sentiment continues to rise, SHIB might fall as low as $0.00002060 on October 8.