Shiba Inu Price Holds Key Support as Rakuten Wallet Adds SHIB in Japan

Key Insights:

• Shiba Inu price holds a five-year demand zone as Rakuten Wallet adds SHIB in Japan.
• SHIB spot trading starts on Rakuten Wallet on April 15 alongside DOGE and XRP.
• Analysts believe that SHIB crypto is still close to a significant support level but requires a clean breakout.

Shiba Inu is set to deepen its presence in Japan after Rakuten Wallet confirmed spot trading support. This development could influence Shiba Inu price as adoption expands in a regulated market.

The listing will go live on April 15. It will let users buy, sell, and trade SHIB directly with Japanese yen. The move gives Shiba Inu access to Japan’s tightly regulated crypto market. It does so through a major domestic financial platform.

Rakuten Wallet Adds SHIB Spot Trading from April 15

Rakuten Wallet announced that it will roll out spot trading of Shiba Inu later this month. Once the feature goes live, Japanese users will purchase SHIB with local currency.

They will also swap it with other supported assets on the platform. That transition offers the token a new entry point into the retail crypto market in Japan.

The listing also includes four other digital assets. In addition to Shiba Inu, Rakuten Wallet will integrate Dogecoin, XRP, Stellar, and Toncoin.

SHIB crypto remains one of the most closely watched additions. Its growing role in global retail trading continues to shape Shiba Inu price trends.

This is not Shiba Inu’s first exchange listing in Japan. The token is already listed on Coincheck, SBI VC Trade, OKCoin, and Binance Japan. However, the Rakuten Wallet launch stands out because of the group behind the platform and its broader reach.

Listing Opens Access to Rakuten’s Wider Digital User Base

Rakuten Wallet is a subsidiary of Rakuten Group. It is one of the largest Japanese technology and e-commerce companies.

The broader group spans online shopping, digital payments, banking, and financial services. Consequently, the listing exposes Shiba Inu to a huge and well-established user base.

The Rakuten network connects millions of users in Japan’s digital economy. A token listed in this ecosystem will be able to gain access and visibility. Such a mix will facilitate more robust retail involvement than smaller transactions.

In the case of Shiba Inu, that is another step towards mainstream exposure. Instead of relying only on crypto-native platforms, SHIB is now embedded within a major fintech environment. The move would enhance uptake by users who would be keen on controlled local services.

Japan’s Regulatory Framework Adds Weight to the Listing

The crypto industry in Japan is characterized by stringent regulation and screening of exchanges. Before approval of assets, they are usually subjected to thorough vetting. Due to this fact, Japanese listings tend to hold more weight than less-regulated markets.

Shiba Inu has already achieved a certain milestone by being included in the GreenList of the Japan Virtual and Crypto Assets Exchange Association. This verified SHIB as a trusted asset and put it on the same level as other established cryptocurrencies like Bitcoin and Ethereum.

The Green List position enhanced the growth of SHIB on controlled platforms. It has also enhanced its profile of compliance in a harsh regulatory environment. The listing of the Rakuten Wallet is based on the same development and demonstrates the increased acceptance.

Meanwhile, Japan’s Financial Services Agency is reviewing crypto reforms. One proposal includes reducing the tax rate for Green List assets from 55% to 20%. If approved, that change could improve trading conditions for assets like SHIB.

Shiba Inu Price Gains Another Foothold in a Regulated Market

Rakuten Wallet listing is coming at a time when traders are keeping an eye on the long-term price formation of SHIB.

Analyst Crypto Lens said Shiba Inu price continues to hold a five-year demand zone on the weekly chart. This zone has supported earlier accumulation phases and major price expansions.

His analysis showed previous rallies of 1,087% and 424% from similar consolidation structures. The current setup follows another extended consolidation period of about 550 days. This is an indication that SHIB crypto is still in a base formation and not a valid breakout.

Shiba Inu price is currently trading near $0.0000061, close to the lower edge of this demand zone. Buyers have been protecting this area and have preserved the long-term structure.

Nonetheless, SHIB crypto continues to encounter resistance on the upside, which has capped attempts to the upside.

If this demand zone continues to hold, the chart allows room for a recovery phase. Stronger momentum would be confirmed by a sustained momentum of breaking above local resistance levels. Up to this point, the building is accretional and not expansive.

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