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Shiba Inu Won’t Stay This Cheap for Long, Says Analyst – Time to Buy?
- An analyst sees the $6.7 billion market cap as crucial support for Shiba Inu.
- At the $10 billion market cap level, SHIB faces resistance which must be broken for an upward trend.
- Two scenarios present potential gains of 80–100% or a drop to the $0.00000630 support level.
- Shiba Inu currently trades in a narrow range facing downward pressure.
- The analyst believes SHIB is approaching a critical support zone for potential price recovery.
- Historical support patterns suggest the importance of the $6.7 billion market cap level.
- In April 2024, Shiba Inu fell below this threshold but rebounded, indicating strong support.
- Resistance is seen at the $10 billion market cap level which has blocked previous rally attempts.
- Breaking this resistance could lead to new highs around $0.00001696 for SHIB.
- Investors are advised to stay confident and possibly buy more SHIB at these levels.
- A tweet suggests SHIB is near the bottom and may consolidate before a growth phase.
- The analyst anticipates consolidation before potential further development if SHIB hits the support zone.
- Previous struggles breaking the $10 billion market cap level highlight its significance.
- Breaking this resistance could trigger an upward trend for SHIB.
- Historical data supports the effectiveness of the $6.7 billion market cap support level.
- The expert remains positive about SHIB's potential price movements.
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