SHIB, the second-most-popular meme cryptocurrency, has reached its third straight lifetime high of $0.0000594, surpassing the peaks of $0.00005711 and $0.00005364 earlier today. Several members of the community have pointed out that this has transpired without Elon Musk’s support or listing on Robinhood. Meanwhile, according to Fortune magazine, the number of signatures on a petition to include the meme cryptocurrency on the Robinhood app has surpassed 326,000.

The Shiba Inu coin continues to rise in value, as its user base hopes that the Robinhood app will soon support SHIB. The token has gained 36% in the last 24 hours. At the time of writing, SHIB was still rallying, and had reached the $0.00005738 mark. The cryptocurrency is ranked 11th and it has a market cap of $22,361,090,315.

SHIB has risen by more than 87 percent in the last week, extending its recent jaw-dropping gains. Meanwhile, hundreds of thousands of people have signed a petition on Change.org, demanding that SHIB be featured on Robinhood. However, the CEO of the app, Vlad Tenev, recently claimed that Robinhood is cautious with the new coins it publishes. Nonetheless, as reported by U.Today over the weekend, the platform includes SHIB, ADA, XRP and Bitcoin in its customer survey, in order to learn about consumer preferences.

SHIB better than DOGE: Eric Wall

Eric Wall, CIO of Arcane Assets, tweeted today that SHIB is a better meme coin than DOGE, in his opinion. He believes this because Shiba Inu does not have the same concerns as DOGE with its Litecoin merge-mining. Furthermore, Wall believes that SHIB is not inherently inflationary and is not sensitive to Elon Musk’s comments about it.

Shiba Inu Price Analysis: SHIBA Bounces-off Above 38.2% Fibo

On the technical side, the Shiba coin is gaining strong support at the 0.000049 level, which is being extended by a 38.2% Fibonacci retracement level. On the higher side, the coin is likely to face strong resistance at the 0.00005956 level. On the two-hourly time frame, Bitcoin has tested the 50-day exponential moving average at 0.000049, and the closing of candles above this level supports chances of a bullish correction.

A breakout above the 0.00005956 level is likely to determine further trends in the market. The MACD and 20-day EMA support a buying trend, therefore, the investors are likely to hold onto Shiba Inu. Further buying could be seen upon a bullish breakout at the 0.00005956 level. Good luck!