Shiba Inu shows signs of life amid positive developments following listing by Mexico’s leading crypto exchange Bitso. Nevertheless, SHIB enthusiasts should watch whether SHIB will keep the momentum or repeat actions seen after the Kraken listing.
CoinDesk reports show Shiba Inu gained 16% today, Thursday. That comes after Bitso listing and Robinhood listing rumors. Indeed the meme coin shows positive actions, but market players appear pensive, acting with care while considering the asset’s past performance. Remember, SHIB did not develop steady uptrends following the Kraken listing.
Shiba Inu’s price saw a substantial value fillip after Kraken’s listing last November. The meme coin’s price increased to $0.000054 from $0.000040. Nevertheless, SHIB failed to sustain the uptrend and slumped after substantial pressure pushed the token under $0.000030.
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Exchange listings usually have a positive influence on a crypto’s price. That is because they increase the asset’s exposure to more investors. Shiba Inu sees increasing holders because of additional listings. Unfortunately, the new holders fail to ensure momentum to SHIB. That means prominent players are quitting the crypto as new holders emerge.
Enthusiasts in Wait & Watch Mode
For now, meme coin fans appear patient, watching the latest listing’s impact on SHIB’s price function. That means waiting to see whether the listing will support SHIB as far as long-term actions are concerned. Nevertheless, broad market sentiment is vital for Shiba Inu’s dynamics.
Shiba Inu’s latest upswing comes after Bitso listing and Robinhood listing rumors. Also, the ongoing bullishness in the overall market supported the token’s surges. Maintaining such developments will see Shiba Inu exploring higher levels.
Waiting and watching for upcoming sessions might be the lucrative strategy now. Shiba Inu will likely mimic Bitcoin’s up-and-coming actions.
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