- Shiba Inu (SHIB) will soon list on a leading Brazilian crypto exchange.
- SHIB is currently moving with an upward trajectory.
- SHIB may break out from its resistance level of $.000035.
Shiba Inu (SHIB) prepares for a major climb as it lists on the high-ranking and reputed Brazilian crypto exchange Foxbit. Foxbit was established in 2014 and is considered to be one of the oldest digital asset exchanges in South America. Since the exchange has more than 950,000 registered customers, SHIB price can expect a major jump. Also, this development is expected to happen on February 16.
Source: TradingView
Based on the chart above, the crypto is seen to be moving in an uptrend position. In detail, SHIB trades at a bullish price above the Fibonacci level of 0.236. This is a level higher than the Fibonacci golden ratio (0.618), a bullish level. Therefore, if this crypto can maintain its current position, SHIB may be able to break out from its resistance level of $.000035.
If it does, SHIB may have the chance to advance its trading price further and touch the skyrocketing price of $.00004. But of course, this price analysis still depends on the performance of the bullish market and the behavior of its investors in the platform.
At the time of writing, the crypto trades at a bullish price of $0.00003334 with a 24-hour growth rate of +4.9%. It has a huge market cap amounting to over $18 billion. This performance of the crypto made SHIB as one of the top twenty crypto in CoinGecko.
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