Shiba Inu (SHIB) has announced 3 key partnerships that will accelerate its global adoption. Meanwhile, SHIB price is consolidating on the verge of a 39% boom.
F1 racing team Aston Martin has added support for crypto payments to enable users to shop online. Ashton Martin Aramco Cognizant Formula One Team (AMF1) will now accept cryptocurrency payments in its store. The payment list includes Bitcoin, Ethereum, Shiba Inu, Doge, Apecoin and more than 20 altcoins.
In another development, the founder of the SHIB burning shop, which includes the Amazon affiliate program, tweeted that 1.3 billion Shiba could easily be burned. Travis Johnson, on his Twitter account, introduced the new vehicle that will be burned weekly SHIB. Thanks to this token burn event, 1.3 billion Shiba Inu will be burned daily through mobile games.
Binance Visa Card enables cryptocurrency payments and transactions at 60 million online and physical stores in Europe. Visa Card accelerates SHIB token adoption by adding support for Shiba Inu. Thanks to this card, users can make cryptocurrency transactions wherever they see the Visa logo.
The card is also integrated with internet payments Google Pay and Samsung Pay. Along with these developments, SHIB price is also trading in a bullish pattern.
The Shiba Inu formed inverted head and shoulders between May and August, as seen in the chart below. Critical support of $0.00000740 allowed buyers to regain control against the horrendous losses of May. This receptor occlusion zone positively affected SHIB. But it only went up to 0.00001220.
Analysts are waiting for the Shiba Inu price at $0.00001679 as the inverted head-and-shoulder pattern is highly bullish. This scenario will be certain if the Shiba Inu can make a clean break above the neckline. For now, buyers should suppress the general selling pressure created by the 200-day SMA on the 12-hour chart.
On the other hand, the 50-day SMA provides immediate support just above an ascending trendline. Therefore, the Shiba Inu will expect higher levels as long as the bulls hold the trendline.
From the fundamental perspective, the Shiba Inu will specifically consume the uptrend in the region between $0.00001400 and $0.00002100. IntoTheBlock's IOMAP metric reveals that approximately 101,000 addresses had previously purchased approximately 445.9 trillion SHIBs in the range.
As a result, traders waiting for Shiba price to break to $0.00001679 makes sense to wait for $0.00001400 to take profits. One of the analyst's targets in this direction is $0.00001700. These targets affect the overall pressure as investors sell at their breakeven price points.
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