Shiba Inu (SHIB) continues to trade in the green after strengthening by over 25% over the past week, backed by rising adoption and a return of buyers into the crypto market at the beginning of the last week of the year. At the time of writing, SHIB/USD is trading at around $0.000038.

Analysis by Coinmarketcap reveals that the Shiba Inu coin was the most viewed cryptocurrency on its platform, followed by market leaders Bitcoin and Ethereum and its key rival, Dogecoin. SHIB’s price was viewed more than 188 million times over the past year, as opposed to Bitcoin which got 145 million views in 2021.

Another milestone for the second most popular memecoin is its recognition as a payment option by leading breast cancer organization Susan G. Komen. The foundation has partnered with The Giving Block to start accepting donations in cryptocurrencies, including SHIB and DOGE, offering one more use case for the coin.

Meanwhile, with the holiday season still going on, popular crypto to gift card exchange platform GiftChill has also started accepting Shiba Inu as a payment option. Users of the platform can now purchase gift cards using SHIB and several other leading cryptocurrencies for use all around the world.

A recent report by ZebPay – India’s oldest cryptocurrency exchange, can also offer support to the SHIB token in the near term. Shiba Inu was one of the most traded cryptocurrencies on its platform, coming in fourth after Bitcoin (BTC), Ethereum (ETH) and Polygon (MATIC).

SHIB/USD Technical Analysis

On the 4-hour price chart of SHIB/USD, moving averages indicate a strong bullish bias among investors. However, leading technical indicators MACD and momentum point to some selling interest as well.

Shiba Inu’s price sits well above the pivot point at $0.000035 but it looks like buyers are struggling to cross the hurdle that the psychological level at $0.000040 presents. A break past this could see the immediate resistance at $0.000042 being tested, so keen an eye on these levels in the near term.