Shiba Inu Price and Market Overview
Shiba Inu (SHIB) is trading around $0.0000086 on Thursday. Momentum indicators show a bullish divergence. This suggests a possible early price recovery. The recent SHIB partnership with Bitget to launch a SHIB payment card supports this recovery outlook. The 30-day Market Value to Realized Value (MVRV) ratio shows SHIB is undervalued. Large whale orders and positive funding rates also point to a potential price rise.
Shiba Inu Launches SHIB Payment Card with Bitget
On Wednesday, Shiba Inu announced on its official X account that it partnered with Bitget exchange. Together, they created a SHIB-branded payment card. This card allows users to spend SHIB and other crypto assets easily for daily purchases. The partnership aims to increase SHIB’s real-world use. It may help grow the Shiba Inu user base and ecosystem over time.
On-Chain and Derivatives Data Support Bullish Outlook
- Santiment’s 30-day MVRV for SHIB is -10.09%, showing the token is undervalued.
- A negative MVRV often signals a buying opportunity and potential price rebound.
- Coinglass data shows SHIB’s funding rate turned positive on Tuesday, now at 0.012%.
- A positive funding rate means traders betting on price gains outnumber those betting on drops.
- CryptoQuant data shows large whale buy orders and buying dominance in SHIB’s spot market.
- These factors together signal a possible SHIB price recovery rally.
Shiba Inu Price Forecast with RSI Indicator
SHIB price dropped nearly 10% after hitting resistance near $0.0000099 on November 13. It currently trades at about $0.0000086. The daily chart shows a bullish RSI divergence. This means recent price lows contrast with higher RSI highs, which can indicate a trend reversal or short rally. If SHIB recovers, it may rise back toward $0.0000099. If it falls, it could test the recent low near $0.0000082.
