- The BTCC exchange recently announced the listing of Shiba Inu (SHIB) on its exchange.
- SHIB continued its downtrend as its price fell further.
“When Shibarium?” is the most frequently asked question among most shiba inu [SHIB] investors and supporters. A tease from Shiba Inu’s lead developer may make the answer to that question elusive, but the SHIB token is making progress.
Realistic or not, here it is The market cap of SHIB in terms of BTC
shiba inu [SHIB] has been added to the list of tradable cryptocurrencies of the London-based BTCC Exchange. The addition of SHIB to the BTCC exchange was announced on March 3, which is likely to increase the number of trading options available to the public.
By adding the SHIB token, BTCC demonstrates the growing interest in the dog-themed meme coin among major cryptocurrency trading platforms.
Binance recently announced the availability of SHIB/USD trading pair. In addition, well-known markets such as Coinbase and Bitstamp already provide support for trading the token.
How does a Shiba Inu react?
Daily Time Frame Analysis of shiba inu revealed that the current development has not affected him in any way. Instead, it remained in the downtrend it had been in for the previous three days.
As of this writing, the token has lost roughly 1% and almost 8% overall over the past three days, trading at around $0.000011.
Source: TradingView
The asset entered a bearish trend as seen by the location of the Relative Strength Index (RSI) line after the price decline.
A strong bearish trend of the SHIB was evident from the RSI falling below the neutral line.
Although it is uncertain how long it will hold, the support line was around $0.000010. Around $0.000014 and $0.000015 there was resistance.
Volume and active address stop
Additionally, SHIB volume appears to be declining. According to Santiment’s volume indicator, volume decreased in February, suggesting that fewer people interacted with the token. The metric stood at about 145.6 million at the time of writing.
Source: Santiment
The indicator of active addresses also recorded a decline.
The seven-day active address indicator showed a decline from the previous week. At the time of writing, there were more than 30,000 active addresses.
Source: Santiment
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The Shiba Inu may need a solid catalyst to start an upswing, given the muted response to SHIB’s recent advances.
Potentially providing that boost is the launch of Shibarium, but the exact timing of that event is still up in the air.
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