• Shiba Inu (SHIB) up 8% in the last 24 hours
  • Shiba Inu token entered the fashion world through a collaboration with John Richmond designer clothing
  • AMC Theatres CEO announces that the company will officially start accepting Shiba Inu online payments on March 19

Shiba Inu (SHIB) has risen 8% in the last 24 hours and is currently trading at $0.0000257. The entire cryptocurrency market recovered in the last day of February. The Shiba Inu token has entered the fashion world through a partnership with John Richmond designer clothing. The upcoming Ramp Walk will soon launch a cutting-edge fashion collaboration with a collection featuring SHIB and John Richmond. In addition, the partnership indicates that 10,000 John Richmond and Shiba Inu NFTs will be released soon. AMC Theatres CEO announced that the company will officially begin accepting Shiba Inu online payments via BitPay by March 19. Shiba Inu is also expected to be available on the AMC mobile app by April 16.

Key Levels Resistance levels: $0.00003535, $0.00003250, $0.00002740 Support levels: $0.00002300, $0.00002071, $0.00001866

SHIB/USD Daily Chart: Range final_621d551941882600e27374c5_415984.png.webp SHIB/USD Daily Chart

The SHIB has been consolidating sideways in February, with the upper limit at the $0.0000352 handle and the $0.000020 support level. Since February 17, the SHIB has fallen slightly, but managed to gain significant support at $0.000020 on February 24. Since then, SHIB/USD has consolidated its rally.

If SHIB prices continue to rise in the coming sessions, the next obstacle could be encountered at MA 50 and 200, at $0.000026 and $0.0000279, respectively. Clearing this hurdle will strengthen the resumption of the short-term uptrend, setting the stage for the level of $0.000035. The price rise may meet the next obstacle at the levels of $0.000035 and $0.000039.

SHIB/USD 4-hour chart: range final_621d55a7c380da0092b18511_263925.png.webp SHIB/USD 4-hour chart

Over the last 4 hours, the SHIB has steadily risen from $0.0000228 before finding resistance at the high of $0.0000254. On the bright side, it could retest the short-term moving average (MA 200) around $0.0000258 before testing the highs around $0.0000273. Another obstacle remains at $0.000032.

At this point of the rally, a mild consolidation is likely as the short-term Relative Strength Index (RSI) is already slightly above the 50 neutral level. The moving averages (MA 50 and MA 200) are showing a negative attitude, although the forces of consolidation may prevail. On the downside, support is expected at $0.0000230 and then at $0.0000207.

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