Shiba inu Coin (SHIB) fell 1.28% on Tuesday. Reversing its 0.53% gain from Monday, SHIB stock ended the day at $0.00000929.
Tracking DOGE, SHIB stock rose to an early morning high of $0.0000947. When SHIB failed to reach the first major resistance level (R1) at $0.00000997, SHIB fell to a late low at $0.00000920. However, to avoid the first major support level (S1) at $0.00000904, SHIB returned to $0.00000932 before ending the day below $0.00000930.
Uncertainty on Twitter and NASDAQ leaves DOGE and SHIB in the red
This week, rumors that Twitter is planning to launch a Twitter Coin have swirled over cryptocurrency news.
according to to world trade wars,
Researcher Jane Wong, who is known for investigating tokens on Twitter, shared what she found about Twitter Coin on her account. After that, Jin Woong’s account was suspended.”
Although there has been speculation about Wong’s Twitter account being suspended, Twitter Coin may eliminate the need to integrate DOGE or at least reduce adoption of DOGE.
Significantly, the Twitter Coin launch may also prompt Elon Musk to end his longstanding support for meme coins in favor of the platform’s own cryptocurrency. Such an outcome would leave DOGE and SHIB in the hands of the broader market and mainstream integration, which has slowed since the collapse of Terra and FTX.
Later today, US economic indicators will draw attention, leaving DOGE and SHIB in the hands of NASDAQ and the broader crypto market. But comments regarding Twitter Coin and DOGE integration plans will have more impact.