The popular meme coin, Shiba Inu, has dropped about 45 percent in 8 days from its All-Time-High. This happened after an upward surge in the price of almost 700 percent in October 2021. The Shiba Inu community has been in Fear, Uncertainty, and Doubt (FUD) over the past 7days.
The FUD has been a result of the 40 trillion Shib move to four different unknown wallets as reported by a Cryptopolitan writer and the bearish momentum of Shib since it hit an ATH high of 0.00008861.
Which fundamental will change the bearish turn of even for the “ShibaArmy,” often so-called?
The Shiba Inu community has continued to expect a listing announcement from Kraken, a United States-based cryptocurrency exchange, after a series of tweets which seemed to bear a promise of listing. The community became disappointed as listing Shiba Inu on Kraken didn’t come as expected.
On Thursday, the 4th of November 2021, Wealthsimple, Canada’s equivalent of Robinhood crypto exchange, announced an official listing of Shiba Inu via a tweet.
Historically, whenever a coin gets listed on a new exchange, the cryptocurrency sees an upward surge in price, basically because of the exposure to a new market. Looking at the bearish momentum of SHIB INU for the past few days, we could wonder if the Wealthsimple listing has bailed the cat?
There was no impact on the price of Shiba Inu amidst the listing on Wealthsimple exchange, many might wonder. But we think this is because users have laid numerous complaints on Twitter over the price data and buying order fails.
Wealthsimple customer support replies to many users, assuring them the technical issue is taken as a priority snd would be handled.
Okex, a Seychelles-based cryptocurrency exchange has listed LEASH. OKEx made a tweet on the 21st of October 2021, calling all meme coin believers to vote for the meme coin to be listed on their exchange.
$LEASH is the second token in the Shiba Inu ecosystem and has a total supply of 107,647 minted tokens. Open for trading at 8:00 am UTC, 5th of November 2021 on the OKEx exchange.
These bullish fundamentals around the Shiba Inu coin have not changed the price momentum from bearish to bullish. Analysts still predict a further bearish momentum for the next 24hrs.
This post was last modified on November 8, 2021 10:10 am
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