Crypto Industry News:
2021 has undoubtedly been a great year for Shiba Inu (SHIB) as memecoin continues to record success. Achieving another milestone, the Dogecoin killer became the most watched cryptocurrency in 2021 on the popular CoinMarketCap platform, surpassing top assets.
According to CoinMarketCap, Shiba Inu had over 188 million views in the last 12 months, which is 43 million more than 145 million Bitcoin views.
Dogecoin ranked third among the most viewed cryptocurrencies in 2021 with 107 million views, followed by Cardano and Ethereum with 86 million views and 81 million views respectively. Interestingly, Shiba Inu is only 15 months old and is currently the 13th largest cryptocurrency in the world by market capitalization.
In October, SHIB grew by more than 133% in four days, reaching a record high of $ 0.000088. The continual amazing boom has increased total market capitalization to over $ 41.5 billion. At the time, the coin was among the top 10 crypto assets in terms of market capitalization, surpassing its Dogecoin predecessor.
Despite all the successes the cryptocurrency has achieved over the past year, Shiba Inu continues to find recognition among crypto investors and entities.
Technical Market Outlook
The ETH/USD pair has been seen testing the trend line support around the level of $3,800 after a failure to rally above the technical resistance located at $4,121. The next target for bears is seen at the level of $3,750 as the negative momentum increase. The level of $4,015 and $,055 will now act as the local technical resistance. The larger time from trend, like daily or weekly remains up and there is no sign of trend termination or reversal. The game changing level is the technical resistance located at $4,224.
Weekly Pivot Points:
WR3 - $4,862
WR2 - $4,406
WR1 - $4,271
Weekly Pivot - $4,012
WS1 - $3,876
WS2 - $3,618
WS3 - $3,465
Trading Outlook:
The ABCxABC complex corrective cycle might be terminated, so the next long-term target for ETH is seen at the level of $5,000. Nevertheless, in order to continue the long-term up trend, the price can not close below the technical support at the level of $2,906. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term technical support for bulls. The level of $3,677 is the key mid-term technical support for bulls.
