Shiba Inu Eyes Breakout as Bitget Launches SHIB Crypto Spending Card

• Shiba Inu partners with Bitget for a fee-free crypto card, allowing a monthly $400 spend without charges.
• MVRV dip and whale buying hint at possible price recovery near $0.0000099 target.

Shiba Inu has entered into a new agreement with Bitget to launch a SHIB-branded payment card, pushing forward its adoption in daily spending. This was confirmed in an official post on the project’s X account on Wednesday. The card allows users to spend up to $400 in cryptocurrency per month without any added costs.

There are no fees attached to card transactions, including conversion charges, foreign exchange fees, or hidden spreads. The signup process is free as well, a move aimed at encouraging new users to bring SHIB into regular transactions, such as online purchases or real-world payments.

The introduction of the zero-fee card also marks a shift toward integrating SHIB into traditional payment channels. This effort may increase its practical utility and attract more users into the token’s ecosystem. Broader acceptance could support its overall stability and long-term usage growth.

Market Signals Point to Price Rebound

Meanwhile, market data shows promising signs for Shiba Inu holders. According to Santiment, its 30-day Market Value to Realized Value (MVRV) ratio sits at negative 10.09%. This suggests the asset is currently trading below its fair zone.

Negative values for the MVRV ratio have been associated with higher buying interest. In past cycles, when SHIB’s MVRV dropped to similar low zones, the token later recovered over the following weeks. If market behavior stays on the same path, a similar rebound may appear again.

Data from CryptoQuant also supports this case. The analytics platform pointed to growing buying pressures on both spot markets and futures markets. Strong whale activity and steady demand on exchanges suggest that big investors might be preparing for a possible rally, which boosts short-term confidence in the token.

SHIB Targets Return To $0.0000099

SHIB’s price tried to move to the 50% retracement level at $0.0000099 on November 13 but faced rejection. After that, the price dropped about 10% within the following two days to reach its lowest point at around $0.0000082 on Wednesday. At the time of press on Thursday, the token was trading at  $0.0000086.

Technical analysis suggests that the Relative Strength Index (RSI)  is showing a bullish divergence. On Wednesday, the token price created a lower low, while the RSI showed a higher high. This gap usually signals that selling pressure is fading and the price may turn upward soon.

If SHIB sustains this pattern, it may try to reach the retracement point at $0.0000099, which would be a 15% rise from current market prices. However, if the token fails to maintain its position, it may move toward the $0.0000082 support level.