Will Shiba Inu React To Bitstamp’s Recent Comments On Its Listing?

Bitstamp Says That Shiba Inu Listing Is Postponed To 2022

Shiba Inu is in spotlight once again after Bitstamp, a crypto exchange which was founded back in 2011, provided an update on the coin’s listing.

In a tweet, Bitstamp stated: “No worries, we haven’t changed our minds! As you know, we needed to postpone our Shiba Inu listing. We’ve been having some technical difficulties with the integration. Rest assured it’s happening, but in 2022!”.

As a reminder, Bitstamp announced that it had technical problems with Shiba Inu on December 9, 2021. This announcement put some pressure on Shiba Inu, and the coin continued to trend down.

An exchange listing is very important for any coin as it increases the pool of potential investors. Typically, a successful listing leads to a rally. For example, Shiba Inu rallied from $0.000039 to $0.000054 at the end of November after Kraken announced that Shiba Inu would be available on the exchange. However, it should be noted that Kraken listing failed to provide longer-term support for Shiba Inu, and the coin is trading lower after the initial rally.

Currently, it looks that crypto traders are not ready to hurry with final conclusions about the fate of the Bitstamp listing, and they do not make major moves while the coin remains stuck in a tight range.

Key Moment For Shiba Inu

Shiba Inu has recently made an attempt to settle below the support level at $0.000032 but failed to develop sufficient upside momentum.

This support level is important for the longer-term dynamics of Shiba Inu as it has previously served as a major resistance level when Shiba Inu was consolidating between $0.00002350 and $0.000032 ahead of the strong rally at the end of October.

In case Shiba Inu manages to settle below the support at $0.000032, it will find itself back in the above-mentioned range and will have a decent chance to gain strong downside momentum and get to the test of the major support level at $0.00002350.

On the upside, Shiba Inu needs to get out of the current downside channel to have a chance to gain sustainable upside momentum. To do this, Shiba Inu will need to settle above the 20 EMA at $0.00003740 and the 50 EMA at $0.00003945.

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