As a seasoned crypto investor with years of experience under my belt, I’ve seen market trends come and go, from Bitcoin’s meteoric rise to altcoins’ flash-in-the-pan success stories. Looking at the current state of SHIB, it’s a coin that’s intrigued me for quite some time due to its meme appeal and potential growth.
Some coins have come back to the red zone, according to CoinMarketCap.
SHIB/USD
The rate of SHIB is unchanged since yesterday.
On an hourly scale, the Shiba Inu coin (SHIB) appears to have breached its nearby support level at around $0.00001830 unjustifiably. If today’s daily bar ends significantly away from this level, there’s a possibility that the price increase might persist towards the resistance by tomorrow.
Looking at a broader perspective, the meme coin’s progress is quite distant from significant levels. Currently, it’s crucial to notice the resistance level around $0.00002017.
If the Shib price reaches and surpasses that level, the built-up momentum could potentially lead to a test of the $0.000021 – $0.000022 range.
Looking at midterm analysis, the situation appears quite stable. At present, the Shiba Inu coin’s trend isn’t showing signs of strong upward or downward movement. Instead, it seems plausible that we might continue to see sideways trading within the range of $0.000018 to $0.000020.
SHIB is trading at $0.00001855 at press time.
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2024-10-30 17:40