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Why Shiba Inu Is Primed for Further Price Increases; Terra LUNA, IOTA, Loopring Up as Bitcoin Bounces

XRP

Dog-themed asset, Shiba Inu remains one of the biggest gainers in the year, up 57,789,646.3% from its all-time low. Although Shiba Inu is currently trading sideways amid recent price action, the token seems primed for a further price increment based on some factors.

First, Shiba Inu may likely come to more exchanges in 2022. This year has marked significant exchange listings for SHIB, the trend may as well continue into the coming year.

According to a Dec. 21 announcement, British Virgin Islands-headquartered crypto company NiceHash disclosed that Shiba Inu is now available on its cryptocurrency exchange. At the end of November, crypto exchange Kraken added support for Shiba Inu, which briefly sent the coin’s value up. Major exchange listings have likewise impacted SHIB price positively.

The pressure continues to mount on Robinhood to list Shiba Inu, at the time of writing, a change.org petition in favor has reached 552,662 signatures. This may be another item to watch in 2022.

Second, Shiba Inu remains on whales’ radar. As per WhaleStats, Shiba Inu ranks as the most traded and biggest hodling token among the top 1,000 ETH wallets in the last 24 hours. The whales’ surveillance website also reports that an Ethereum whale added four trillion SHIB tokens worth nearly $136 million in the past 24 hours. This seems important as every investor wishes to profit from their holdings, thus keeping SHIB price in check.

Technically, Shiba Inu continues its consolidation phase inside a triangle pattern and seems set for a price increase within the formation. According to Crypto analyst, Michael Van de Poppe, SHIB’s technical setup looks good:

”In the entire correction of $SHIB, I’d long on two spots (based on the daily timeframe). The first one gave a bounce of 60%. The second entry is based on the green level we’ve touched. Looks good”

Terra LUNA Marks All-Time Highs

Terra LUNA hit a new all-time high of $88.94 earlier today. LUNA is set to mark the eighth consecutive day in green and has posted nearly 80% gains since November. According to data from DeFi Llama, Terra is the second-largest DeFi platform by total value locked (TVL) at $19.07 billion. Ethereum remains the DeFi market leader with $154.1 billion in TVL, as per DeFi Llama data.

IOTA, Loopring, Altcoins Rally as Bitcoin Rebounds

Bitcoin briefly rose to intraday highs at $49,339 on Dec. 21, leading several altcoins to post double-digit gains. At the time of writing, selected altcoin tokens, IOTA (MIOTA, +16.63%), Loopring (LRC, +15.04%), Ren (REN, +35.53%), Fetch.ai (FET, +23.30%), Lisk (LSK, +35.00%), Chromia (CHR, +17.06%), Aragon (ANT, +22.50%) were significantly in the last 24 hours.

IOTA’s recent rise borders around community excitement behind a new smart contract network known as Assembly based on IOTA’s smart contracts framework. The new network is set to be launched in 2022 and will come with its native token known as ASMB. The token will initially be distributed to existing MIOTA holders via an airdrop.

Loopring spiked to highs of $1.35 on Dec. 21 as the network takes a major step forward on its mission to onboard the masses directly onto Ethereum secured Layer 2. Loopring announced its 2.0 Counterfactual Wallet and direct to Loopring L2 fiat on-ramps today.

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