SHIB Holds Key Support As Chainlink Boosts Cross-Chain Utility
The post SHIB Holds Key Support As Chainlink Boosts Cross-Chain Utility appeared on BitcoinEthereumNews.com.
Shiba Inu price today is trading at $0.00001241, holding steady after repeated defenses of the $0.00001230–$0.00001232 support band. The token remains pinned within a descending channel, with overhead resistance capped by clustered EMAs and the upper boundary of the downtrend. The market now faces a critical standoff between technical pressure and expanding cross-chain adoption news. Shiba Inu Price Holds Support In Descending Channel SHIB price channel dynamics (Source: TradingView) On the 4-hour chart, Shiba Inu price continues to trade inside a well-defined descending channel stretching back to mid-July. Support has been repeatedly defended at $0.00001230, where dip buyers have stepped in to stabilize losses. Overhead resistance converges near $0.00001270–$0.00001275, reinforced by the 200-EMA and the channel’s descending trendline. Related: Ethereum (ETH) Price Prediction: Foundation Sale Sparks Market Debate Momentum indicators are leaning neutral. The RSI currently sits at 53, reflecting balanced sentiment after recovering from late-August lows. Short-term EMAs (20 and 50) remain tangled near price, showing compression that often precedes a breakout. A clean move above $0.00001270 would likely flip momentum bullish, while a failure to hold $0.00001230 risks reopening a decline toward $0.00001180 and potentially $0.00001120. Chainlink Partnership Expands SHIB’s Cross-Chain Reach Beyond technical patterns, fundamentals have strengthened after Shiba Inu announced a major integration with Chainlink’s Cross-Chain Interoperability Protocol (CCIP). SHIB is now the first meme token listed on Folks Finance, enabling cross-chain lending and borrowing functionality. This listing allows SHIB holders to use their tokens as collateral, borrow against them, or earn yield across multiple blockchains. Folks Finance emphasized SHIB’s unique position as the “first memecoin with cross-chain lending markets,” highlighting the community’s growing push into decentralized finance. Chainlink’s CCIP integration is not new to the ecosystem. Last year, SHIB, alongside tokens like BONE and LEASH, adopted CCIP to expand availability across a dozen blockchains. The…
Filed under: News - @ September 3, 2025 5:30 pm