The cryptocurrency market made a positive U-turn over the course of 24 hours, resulting in the Shiba Inu rising furiously and slicing off zero. Up over 5% over the last 24 hours, the Shiba Inu price is currently trading at $0.00001035.
Will the Shiba Inu Meme Coin continue to rise or is it just a fake?
It looks like the bulls have regained control once again as the Shiba Inu finally breaks out of its long-term symmetrical triangle pattern and removes zero from the current trading price.
The Shiba Inu price risks a near-term drop once it enters overbought territory in the Relative Strength Index, but the bullish momentum and green candles printed on the price chart still show bearish signs. not.
SHIB/USDT – 4 timeframes.
As you can see, the Shiba Inu follows a typical pattern of consolidation: the textbook symmetrical triangle. Today, blockchain market sentiment turns bullish as Bitcoin climbs above his $20,000 mark and thrills and excitement enter the market.
Investors who bought Shiba Inu during the June 2022 cryptocurrency crash would have maintained an astounding 40.25% rise if they had continued to invest today.
From a technical analysis perspective, the Shiba Inu remains very bearish on the October 2021 all-time high of $0.00008847. In fact, the Shiba Inu has dropped a whopping 88% from its all-time high.
However, this may suggest that the Shiba Inu cipher is currently in the undervalued re-accumulation range.This means that downside risk is minimized and upside potential is possible from here. Next Crypto Bull Market It can be very rewarding for patient long-term investors.
SHIB/USDT – monthly timeframe.
Zooming out on the price chart, we can see that the Shiba Inu is in a long-term downtrend with price action consistently below its highs. Diagonal resistance trendlines have proven to be a difficult barrier to break through.
If the Shiba Inu can retest the resistance trendline, we are more likely to see the $0.0000116 Shiba Inu by the end of 2022. The most bullish scenario is for the Shiba Inu to break through the resistance and continue the positive price towards the high swing. August 2022, approximately $0.0000189.
Shiba Inu crypto video analysis
According to Coinmarketcap, Shiba Inu has a market capitalization of $5.64 billion, which is quite impressive even during the crypto winter and is still among the top 20 cryptocurrencies in terms of market capitalization.
There may not be much room for Shiba Inu to grow in 2022, but it could be an ideal price level to start building a long-term crypto portfolio.
Strong instead of Shiba Inu?
While Shiba Inu and Bitcoin continue to rise again, traders and retail investors begin to steer towards altcoins once again. I have reached the highest level of happiness through
Through this long crypto winter that we are currently facing, we may be left bored for a while before the Shiba Inu starts taking off again.
A new cryptocurrency pre-sale is underway, and it will be an altcoin with the potential to rise significantly after launch. This particular coin has performed very well in the cryptocurrency bear market, Dash 2 Trade (D2T).
Dash 2 Trade has quickly raised over $2.4 million in the first few days of its presale, with a total of 9 pre-sales stageThe recent pre-sale known as Tamadoge we analyzed offered a similar pre-sale stage, and investors who participated in the first stage would have been up an incredible 1,950%.
We speculate that Dash 2 Trade could replicate similar results with successful pre-sales and deployments on multiple centralized exchanges it may have in its pipeline.
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