SHIB: THE MEGA BURN YOU WANT IS NOW HERE | Shiba Inu Crypto Breaking News & Events Update TODAY
So today were going to cover quite a few important things, so first of all were going to have a look at the burn project that is lined and ready to go, and on top of that, theres been additional pressure for robin hood were gon na. Have a look at that and the whales, the whales are doing something i didnt even expect, and lastly, were gon na have a look at where sheep is currently sitting and where it can potentially go to stick around to the end, because you dont miss this. Well. Be giving away 100 to a random subscriber to kickstart, their crypto journey to enter this giveaway simply like and subscribe and comment your favorite crypto in the comments below. So this is actually a very, very big announcement and for those of you who went around when this partnership was announced, basically now, payments is a payment gateway that allows you to purchase products with ship for e commerce stores. This is a very big deal for two reasons. First of all, utilization, so in terms of utilization e commerce occupies in 2020 around 4.3 trillion dollars. There is a large amount of cash being sent through this sector and if ship can just capture one percent, if one percent of the e commerce stores in the world checks out using ship, that is essentially a 43 billion dollar year industry in terms of capturing payments And the second biggest thing about this is as patis tweet now payments were on board the ship trifecta ship, leash bones, starting with ship burning a percentage on each transaction.
So that means each time ship is used as a form of payment for a transaction. The amount of ship tokens in circulation will be reduced and by simple supply and demand. The less tokens that are circulating the ship, the higher the price of ship will go, and this is also very well summarized by mr shannon right here. One of the issues with many of these tokens that they lack utility it looks like the ship dev team has been adding both utility and a burn plan. I think this token just became legit im curious to see how this plays out – and this is very true, so whats happened here is actually very simple. To understand. Whats going to happen in the future is that more and more online businesses are going to allow ship as a form of payment for their products, and this is going to be a pretty reasonable thing to do, because weve now gone over 700 000 holders of sheep Theres bound to be a lot of business owners that are very passionate and also involved with sheep. So as more and more people utilize ship, the value of ship is going to go up, and on top of all of that uh there is going to be a burn process involved. Every time ship is used. So that means by natural supply and demand. The demand for sheep is going to go up, driving the prices up due to the reduced supply.
This is, of course, incredibly incredibly exciting and speaking of excitement due to the massive bull run that we have seen for sheep theres, a lot of media coverage, and this media coverage continues to pressure robin hood to list sheep as well. We have these articles a surface online almost everywhere. When will robin hood as shiba? You know it could be a win win, so theres a lot of journalists covering the listing of sheep on robin hood. So this is going to be a lot of pressure now for robin hood to begin its uh technical aspect of listing sheep on their platform and this pressure hasnt gone unnoticed. The ethereum whales are loading up on ship big time ill. Give you some examples. So the ethereum well gimli bought 8.3 million dollars of ship yesterday and we have multiple transactions from this ethereum whale called shikamaru hes loaded up, i think four or five loads of 1.1 million. So we have one transaction here: 1.17 million another one here, 1.17 transaction. I thought this was a duplicate tweet, but its not if youre, actually looking through the transaction. These transactions are different by one to two minutes, so every two one or two minutes has picked up this amount of sheep, so we have the same amount but different transaction 1.17 million again. So this is four transactions of five transactions: six transactions thats. Roughly six point six million dollars and we have the hearing well saver at almost 15 million usd and hes loaded up again on a separate transactions that 11 million usc.
So this particular whale has loaded up roughly 30 plus million dollars. These are not small purchases, but big wells. These are actually big purchases by big whales as well. This is a very, very positive news for us to see, because, right now we are seeing the whales willing to purchase more ship at the dip. That means they think that ship can go even higher than what we are currently seeing right now now before we move on, you can support your favorite crypto projects such as cheap ethereum and more by getting your own physical crypto coin. To add to your collection, you can find a link in the description. So if we look at ship on the daily timeframe chat, we can see that there is this huge run up and ship is currently doing a first pullback sitting above the 2 000 ish mark. So what can we reasonably expect from here, so whats happening right now in a narrative sense, from a psychological point of view. Is that a lot of people who have bought into ship and have bought into this hype according to this run is taking some profit. So hence we see a bit of reduction here. I talked about the taking profit previously because i thought it was going to begin a little bit earlier, but we are seeing that right now so were seeing its first pullback and thats. Usually the result of people wanting to take some profit, so this is a healthy, a very healthy pullback.
But what can we expect going forward right now? Another leg higher would surprise me, but with the way things are going this week, ship has proved to us what we should expect the unexpected another strength of the ship army is not to be underestimated, a test of all time high at the 5 000 ish mark. If i zoom out here a test of the all time, high here is absolutely not out of the question at this stage, and if this happens, it is well within the reality to anticipate another zero to be dropped in the near future. If shibu still retests. The all time, high level you will be doing so with over a 60 reduction in the circulating supply. From last time, no india covered relief selling to be concerned about and with massively elevated levels of social awareness and support from around the globe. This genuinely can give it the strength to smash through this level and its a legitimate possible scenario at this stage, so right now any sideways movement above the 2000 mark, which is this particular level here, its insanely bullish. There is a valid argument that the most relevant support level right now will become this 2000 mark and being a whole number value. It is likely to come into play as a psychological level. It has been marked as a level of importance technical significance by order support resistance indicator on the one hour time frame, and we can see this support level here, so we can see that it is bouncing nicely off of this support level right now, the current range Were in is basically from 3500, which is the high to the 2000 mark, which is the support level here.
Seeing this range tighter would not be a bad thing at all. This current range represents roughly 75 percent price difference from the high to the low again. If this can consolidate anywhere above this 2000 level, that will be a massive display of strength now, alternatively, what could be a stronger sign of strength is if there was a bit of a pullback, so maybe for a few days and then straight into another bull run. So this is going to be incredible display of bullish behavior, because this is essentially a formation of a ball flag or a first pullback into immediately another bull run. Also, i want to thank you guys for watching and been sticking around for so long. The ship army has together achieved incredible things: weve reached one million on twitter weve deleted a zero on the sheep price. We are now at 720, 000 and more holders. We have the nft shaboshis and the ship gain coming and now payments have a burn transaction built in integrated within the ship system, with ship leash and bone coming, and now our mission is to get robin hood to this ship, so we have come very very far Since the beginning, or in the last couple of months and its just been absolutely right anyway, thats all from me, let me know in the comments, if you think i should get a haircut once ship drops another zero as always take care. Well catch. You guys.