Bybit joins the Shiba Inu wagon and makes it available for spot trading

The Shiba Inu (SHIB) is seeing a resurgence in buying demand across the board as it finds support around the $ 0.000036 area and is now on its way to trying to test the 50-period SMA of the 4-hour chart.

The so-called “Dogecoin killer” was also hit by the bleeding that the cryptocurrency market suffered over the weekend, although losses in the meme coin were limited from a general point of view.

For now, the positive news in terms of adoption does not stop regarding SHIB, as the exchange with offices in Singapore, Bybit, announced that Shiba Inu is now available for spot trading.

According to the announcement, traders from the United States, China, Singapore, Iran and other countries would not be able to access this product due to regulatory issues. This is because it is a product of derivatives, which are highly regulated in the aforementioned countries.

This listing came a week after the largest exchange in Brazil also announced that the meme coin would be available on its platform.

On the other hand, data from WhaleStats revealed that Shiba Inu and Chainlink (LINK) were within the top 20 of the most purchased tokens in the last 24 hours.

This occurred in the context of the sell-off that the crypto market experienced in recent days.

On the technical landscape, the SHIB is trying to break above the $ 0.000040 resistance and is now looking to gain positions heading towards the 200-period SMA area.

However, if the low of $ 0.000030 yields to sellers, the price could go towards the $ 0.000027 level.

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