SHIB allows warehouse managers to retire
The funds enabled him to leave his job, which paid $68,000 per year, stay at home with his son, and participate in online discussions about meme coin-related projects.
When the Price was at $0.0000001, a 35-year-old supermarket warehouse manager called Rob invested $8,000 in Shiba Inu, giving him an allotment of 800 billion tokens. When the token Price skyrocketed to an all-time high of more than $0.00035, Rob cashed out a portion of his holdings to put $500,000 into his bank account. The SHIB bearer still has over $1 million in cryptocurrency. The cash enabled him to leave his $68,000-a-year career, remain at home with his son, and participate in online conversations regarding SHIB-related projects.
The former warehouse manager would be part of a new generation of cryptocurrency users who are becoming millions, if not billionaires, like many Bitcoin HODLers did following the 2017 bull run. SHIB is currently trading at $0.000058, having increased by more than 5,799,999,900 percent since October 2020.
However, suppose holders dump such a significant amount of tickets in the future. In that case, the SHIB price could plummet, as it occurred in May. The SHIB token is now the eleventh largest cryptocurrency by market capitalization, with Dogecoin (DOGE) ranking ninth. SHIB’s market cap is around $32.6 billion at the time of publication, with over 549 trillion tokens in circulation.
Bitcoin starts fresh rally
Bitcoin has begun a new rally above $65,000 against the US dollar. BTC is showing signs of life and could rise to $70,000 soon. The Price is currently trading above $65,000 and above the 100 hourly simple moving average. On the hourly chart of the BTC/USD pair, there was a break over a robust negative trend line with resistance near $61,550.
Once the pair closes above $66,000, it could move further higher. Bitcoin’s Price Continues to rise Bitcoin’s Price has held well above the $60,000 support level. As a result, Bitcoin began a new climb above the $62,500 and $63,500 resistance levels. The bulls even pushed the Price past $65,000 and above the 100 hourly simple moving average. Furthermore, on the hourly chart of the BTC/USD pair, there was a break above a robust negative trend line with resistance near $61,550.
The two accelerated their march above the $65,500 barrier. A high near $65,681, and the Price is now consolidating gains. Bitcoin is currently trading far above the 23.6 percent Fib retracement line that connects the swing low of $60,129 to the high of $65,681. On the plus side, an immediate resistance level is near $65,500, with the first significant barrier near the $66,000 station. A clear break above the $66,000 resistance level could signal the start of a new rise.
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