newegg shiba inu coin

After seeing Shiba Inu ascending to its ATH price of $0.00008845, an abundant number of investors presumed that maybe, Shiba Inu would vanish another zero from its price in just one go. But, Shiba Inu started tumbling from the outset of November, breaking each and every valid support level. However, in one stage of 29th November, Shiba Inu’s price paused at $0.00003841, and from here, the coin’s market took a 360-degree turn. Because of this sudden up-trend-taking, Shiba Inu holders expressed their jolliness, but even then, two questions from them were circulating in the social media, which is, Why is Shiba Inu coin going up?’and What’s happening with Shiba’s Price? Indeed, there are some significant parameters behind this massively increment in Shiba Inu’s price: and among those parameters, a notable one is that the popular CryptoCurrency exchange Kraken has recently enlisted Shiba Inu, which every one of us already knows. Apart from this, several other factors are also there for which the Shiba Inu coin is going up. Even there are such reasons that will startle you once you hear them. In this Shiba Inu-price-up-related article, we arranged all the possible parameters (top 9 reasons) in a sequential manner so that you can easily catch those reasons for which Shiba Inu’s price is ascending upward.


SHIBA INU Coin’s Recent ATH Levels

DateATH PriceTrading Volume (24h)11-10-2021$0.00003077$7.32B27-10-2021$0.00005453$18.68B28-10-2021$0.0000826$41.40B30-10-2021$0.00007528$13.56B06-11-2021$0.00006241$12.17B19-11-2021$0.00005029$4.95B30-11-2021$0.00005247$9.59B

Top 9 Reasons why Shiba Inu Coin is Going up Today

  1. Kraken Listing.
  2. Newegg to Accept Shiba Inu Coin.
  3. Big Whales buying SHIB.
  4. SHIB Coin’s Technical Analysis
  5. Shiba Inu coin burning news.
  6. 1M Shiba Inu wallet milestone.
  7. ‘Ask the Doctor’ Accepting SHIB.
  8. Big Influencers Supporting SHIB Coin.
  9. Considering SHIB as the most lucrative Crypto Asset in December 2021.

1) Kraken Listing

Trading PairSpreadVolume (24 h)Volume %SHIB/USD0.22%$1,972,7460.13%SHIB/EUR0.15%$1,569,6620.10%

Yes, we firmly believe that Kraken listing is highly responsible for SHIB’s climbing up-trend. Notably, Kraken is a United States-based cryptocurrency exchange, which has a skyrocketing demand for its low trading fee to U.S. cryptocurrency users. That’s why kraken’s announcement of enlisting Shiba Inu provided the coin’s price with a 35% increment within the next 24 hours.

So far, more than 5K US crypto users have opened accounts in Kraken exchange, and recently, this US-based crypto exchange has started getting high trading volume from the traders of Shiba Inu coin. Considering the 24-hours-trading volume, Shiba Inu is getting more than 0.25% trading volume.

Notably, SHIB/USD and SHIB/EUR are two trading pairs available for trading on the Kraken exchange. The trading fee of the SHIB/USD pair is relatively lower than SHIB/EUR. So, our recommendation is for you to trade in SHIB/USD trading pair if you want to trade with a low trading fee.

We are seeing that the listing of Shiba Inu coins in different exchanges is being done in abundance by the end of November, and this chain was started by Kraken. Like, at the same time, Mercado Bitcoin, the largest Brazilian Crypto Exchange, also listed the Shiba Inu coin.

It is nothing new that the Shiba Inu’s price gets pumped up upon being listed by an exchange. The relation between Shiba Inu enlisting and its price pumping up was pioneered first by Binance. We saw Shiba Inu’s price increasing right after Binance listed the coin. The word ‘’SCAM’’ was clung to the Shiba Inu coin before being enlisted by Binance.

2) Newegg to Accept Shiba Inu Coin

Whenever US people think of PC hardware, gaming & tech, they immediately recall Newegg, which is a retailer of items including computer hardware and consumer electronics.

Indeed, Newegg is a crypto-friendly company, and it understands that Cryptocurrency is the future. That’s the reason for which Newegg added Bitcoin as their payment system in 2014. Yes, you heard the right, it is 2014. You all were highly detached from Bitcoin in 2014; however, let’s back to the issue of Newegg. Right after that, Newegg added Dogecoin and Litecoin gradually.

However, the Shiba Inu coin is the latest one to be added to Newegg’s payment list. It is a great achievement for the Shiba Inu coin. And in our eyes, this achievement is even larger than the news of being listed by Kraken. Why are we saying so?

  • The answer is quite obvious. If you want to see the mass adoption of Shiba Inu, then it’s necessary that other popular companies like Newegg add Shiba Inu as a payment gateway to their platform. When other potential companies see Newegg added Shiba Inu as their payment option, they will think of Shiba Inu positively.

Another interesting incident happened the day when Newegg added Shiba Inu to its payment option. Did you notice that?

  • The incident is- when Newegg tagged Shytoshi Kusama, a popular Shiba Inu coin developer, on a tweet in his Twitter account and later Shytoshi Kusama responded to the tweet and started following Newegg’s Twitter account.

3) Big whales Buying- SHIB

Even though we kept this ‘’big whales buying Shiba Inu’’ point at number three, this point deserves to be in number one while we are writing about why Shiba Inu coin is going up today. The reason is – that whales are buying Shiba Inu in bulk is the core action here.

Suppose- if big whales stop buying Shiba Inu, what will happen then? Do you think Shiba Inu’s price will keep going up once those big whales stop buying the coin?

  • Never at all. Actually, retail investors are very little influential to the price’s bouncing up and down of such a coin with a large marketcap. So, big whales play a vital role in the coin’s price increase and decrease.

In the last 24 hours, Shiba Inu whales bought 42% more Shiba Inu on average when Shiba Inu’s price was in an increasing state. There is a whispering in the Shiba Inu community about whether Shiba Inu whales know some significant information for which they are buying Shiba Inu coins in bulk. The answer might be YES because upon seeing the chart of Shiba Inu, you can understand that its price is increasing.

A recent survey shows that almost every one of the top-1000 Ethereum whales holds some amount of Shiba Inu coin. To be more specific, they are holding Shiba Inu a total of 48 Trillion, which is worth $2.3M+ in USD.

That Crypto whales like Shiba Inu is a big advantage of it. So, Shiba Inu community members would like to see the price increment of the coin, then none but Cryptocurrency whales can take Shiba Inu’s price to the next level.

4) SHIB Coin’s Technical Analysis

We are pretty sure that you have already gotten startled seeing Shiba Inu Coin’s technical analysis as a point in this ‘’why is Shiba Inu coin going up?’’ article. It’s natural to be startled because technical analysis is nothing exceptional in the field of Cryptocurrency. However, let’s back to the point of Shiba Inu coin’s technical analysis.

If you look at the recent Shiba Inu chart from its ATH to price-crash, you can clearly understand the technical analysis. There was a bullish flag pattern visible on its chart. Generally, a bullish market move is followed by a bullish flag and that really happened in the case of Shiba Inu price. The recent Shiba Inu bullish market has left its holders with a 35% gain.

On the other hand, if you see the daily chart of Shiba Inu, you can find $0.00003887 as a big support level. So, it was quite natural to bounce back from this giant support level. So, as a direct answer, we can say Shiba Inu coin’s technical analysis.

So, we think the direct answer to the question ‘’why is Shiba Inu coin going up today?’’ is the technical analysis of the Shiba Inu coin.

5) Shiba Inu coin burning news

On December 2, a tweet from a Twitter account named Shib Guy said, ‘’Daily SHIB Burn update 2-12-2021’’. Other information relevant to this info was adjunct below.

Token Burn: 20,039,893 SHIB.

Total TXNs: 10

USD equivalent: $847

Maybe, you can’t comprehend something from this tweet. No matter, we will explain the tweet to you.

  • You all know that Shiba Inu has a mammoth community. Many of them support Shiba Inu from the core of their heart. They want to lift the demand of Shiba Inu regardless of its supply amount. You might know that Shiba Inu has a supply of 549,016B+ SHIB. But, what maximum Shiba Inu supporters do is send the amount of Shiba Inu that is to be burnt into a burning wallet. The amount you are sending to the burning wallet will be isolated once the sending procedure is over. Burning Shiba Inu has become trendy nowadays in the Shiba Inu community.

As a result, if you glance over Twitter and Reddit, you can see that people are sharing their personally-burnt Shiba Inu’s amount with its Transaction ID on social media. We believe that this trend had impacted positively on Shiba Inu’s price. The reason is that people are seeing the amount of total Shiba Inu coin supply is decreasing day by day.

6) 1M Shiba Inu Wallet milestone

Shiba Inu Coin Holders Chart

DateSHIB HoldersWed 24, Nov 2021997710 SHIB HoldersThu 25, Nov 20211002108 SHIB HoldersMon 29, Nov 20211015137 SHIB HoldersWed 1, Dec 20211023672 SHIB HoldersSun 5, Dec 2211039066 SHIB HoldersTue 7, Dec 20211042248 SHIB HoldersWed 8, Dec 20211043039 SHIB Holders

Will you find only one crypto project that ages less than two years but has 1M+ holders? Yes, Shiba Inu is the one.

Whereas Bitcoin and Ethereum struggled hard in their 1st year to increase their holder’s amount, Shiba Inu is the only coin that might have done it in its 1st year. Right now, the amount of Shiba Inu holders is 1,030,532, and the number is increasing bit by bit. We believe that this large number of holders of Shiba Inu is its strength. And so, novice investors are leaping on buying Shiba Inu, causing the SHIB coin’s price to go up.

7) Ask the Doctor Accepting SHIB

‘’Ask the doctor’’ claims them to be Canada’s most trusted source for health and medical news and information. They are known as Canadian online medical service provider. Of late, a bunch of activities of this online service provider company has been in sight.

Of late, ‘’Ask the doctor’’ has added Dogecoin as their payment gateway. The company paid their intention to add Shiba Inu coin as their payment gateway, seeing frequent requests of SHIBARMY. The company has appeared with a great surprise for the Shiba Inu community. So, what’s the surprise?

  • Indeed, ‘’Ask the doctor’’ not only added Shiba Inu as a payment option but also added Shiba Inu equal to the amount of $1.5M+ to their balance sheet through Kraken exchange. The amount they bought is nearly 31B SHIB.

That piece of a decision taken by ‘’Ask the doctor’’ is superb bullish news for the Shiba Inu coin. Being a payment option of such a popular service provider is really a matter of success for Shiba Inu coin. On the other hand, it goes without saying that other companies will also follow the footstep of this popular company.

8) Big Influencers are Supporting SHIB

What’s the reason behind the price-up of Shiba Inu today? Making no delay, we will answer you that big influencers are supporting the Shiba Inu coin. But, you can’t logically explain every single aspect of the crypto market as the industry is still in its early phase. To be more specific, we have to say- nowadays, so-called giant influencers promote meme-typed coins on social media. Based on their promotion, retail crypto investors stumble upon those recommended crypto projects. We must name Elon Musk as an influencer because his tweet caused Shiba Inu and Dogecoin to go up, and because of this, his tweet was the hub of discussion at that time. Shiba Inu’s significant price increment because of Elon’s tweet happened several times, which the Shiba Inu community may still know.

If you have recently opened Twitter, you must have seen that Twitter is full of positive tweets of Shiba Inu. All ranging from celebrity to Crypto influencers are trying to address Shiba Inu positively on Twitter. As a result, if any new cryptocurrency investor enters Twitter, they will have a positive impression about Shiba Inu in their mind. Let’s take a look at some of the positive impressions made by popular crypto influencers about Shiba Inu.

  • David Gokhshtein: David Gokhshtein is a popular figure in the crypto industry. He is more famed as an analyst of meme-typed coins, especially an analyst of Dogecoin. But, nowadays, this popular figure is being seen promoting Shiba Inu too. On 20th December, he tweeted from his Twitter account writing, ‘’Eat zeros $SHIB’’. That tweet went viral very soon.

On the other hand, on 7th December, David wrote in a tweet, ‘’How many buy the dip on Shiba Inu?’’ Whatever the market situation is, David always inspires the Shiba Inu community by tweeting.

  • The Moon: The Moon is both the developer of the Kasta app and a popular Cryptocurrency YouTuber. His YouTube channel has more than 500K subscribers. He is also seen tweeting positively about Shiba Inu. On 1st December, The Moon tweeted from his verified Twitter account writing, ‘’ $SHIB to $100?’’ In a moment, the Shiba Inu community started jumping on commenting down that tweet.
  • Shannon Bray: Shannon Bray, who was born in Louisiana, ran for election to the U.S. Senate to represent North Carolina. His excitement about the Shiba Inu coin in recent times caught sight of people. On 6th December, he wrote from his Twitter account, ‘’It’s time to light a fuse for Shiba Inu. Get ready SHIB INU Community Members.’’

If we want, we can show you hundreds of similar examples. You may have already gotten the hint that popular influencers are promoting the Shiba Inu coin. It is one of the vital reasons for Shiba Inu’s price up.

9) Everyone is considering SHIB as the most profitable asset in December 2021.

  • Do you know that the world has a common rule?

Everyone wants to stay in the safe zone. Everyone wants to flow in favor of the current. And this situation is entirely identical to that situation of Shiba Inu. How much profit Shiba Inu distributed to its holders in the last year is noteworthy. On the other hand, the Shiba Inu coin is in a trendy niche, and this niche is known as the Meme coin.

Now, if you skim through the history of the Cryptocurrency market, you will find the term Cryptocurrency & Bitcoin 4 years cycle. According to this term, the full cryptocurrency market is supposed to go bullish by December 2021 to the first quarter of 2022. Now, many are using the Shiba Inu coin as a trump card. Shiba Inu will perform well in the first quarter of 2022, what the coin has been doing since last year.

That’s why you must know that the number of Shiba Inu holders is increasing over time. So, a slogan is being heard so much from people that Shiba Inu will make Shiba Inu holders millionaires by 2022.

Conclusion

It goes without saying that Shiba Inu coin is getting larger day by day, owing to support from its community members. And 2021 will remain as a historical year for the Shiba Inu coin. What we want is to let you know the reason behind Shiba Inu’s price-up at the end of 2021. Alongside, we are giving you a hint in advance that Shiba Inu’s price can grow more by the first quarter of 2022. However, let’s come to another talk. Indeed, Shiba Inu is a meme-typed coin with no fundamental use case. So, it’s not an act of intelligence to invest in the Shiba Inu coin just because of its price-boosting. The reason is that only those coins with fundamental use-case will have a long life in the industry. And the remaining coins will get extinguished at the end of the day. We are not saying that the Shiba Inu coin will not succeed. We are just saying that a price increase doesn’t refer to a project’s fundamental strength. So, if you are a long-term cryptocurrency investor, you should search for a fundamentally strong crypto project. But, if you are a trend investor or investment is fun to you, then you can join the journey of Shiba Inu.

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