SHIB Drops 3.8% to $0.00000655 – How to Buy Shiba Inu

Shiba Inu is an altcoin created to compete with dogecoin and take its place as the number one meme coin. Since launching, SHIB has made tremendous gains. One of the significant developments of the platform is ShibaSwap, a fast-rising DeFi platform that locked in $1.5 billion in total locked value in just two days after launch.

SHIB is trading at $0.00000655 at the time of writing after a 3.8% drop in 24 hours.

SHIB Price Analysis

Shiba Inu’s volatility has been high in the past few days. Currently, SHIB is on a bearish trend, which could continue over the week. If the slump continues, SHIB will decline further towards $0.000006 and it could retest lower support at $0.0000055.

Looking at past SHIB price movements, dips have always presented ideal entry positions for short-term traders. If new traders start buying during the dip, we could see SHIB gearing for a bull run, and prices could consolidate at around $0.000007.

Currently, support from the broader crypto market is low; hence Shiba Inu bearish flag could strengthen in the coming days. However, the current dip is worth considering for those who want to invest in Shiba Inu.

This week will be big for SHIB, given that the Shiba Inu virtual party is slated to happen on July 20. Market analysts have predicted that the event could lead to a 50% breakout in SHIB prices, and the current dip makes it even more attractive for short-term traders.

While the effects of the event are bound to be witnessed, the upswing might not last long, given that the broader market is fluctuating towards a downtrend. Hence, the breakout will only hold for a while, and Shiba Inu bears could resume.

Where to Buy SHIB

To buy Shiba Inu, one can create a cryptocurrency exchange account on the following platforms:

• eToro

eToro is one of the highly recommended exchanges for beginner and expert traders. eToro gives its users access to a wide range of features such as copy trading and a demo trading account to make it easier for them to learn how to make profits from the crypto market.

• Coinbase

The other platform where one can buy SHIB is Coinbase Pro. Coinbase is one of the largest exchanges, and it offers high liquidity. Furthermore, Coinbase also supports a wide range of cryptocurrencies and trading pairs, making it convenient for traders who want to diversify their portfolios.

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