1. Introduction:
Now, at the moment, Shiba Inu coin is doing very well to
maintain support levels around 3000 points per coin. Yes, we may be fluctuating
a little bit above, we may be fluctuating a little bit below. But Shiba Inu
coin is doing very well to tread water, especially knowing that whales are
currently selling off. Now, guys, this could be a huge, I guess, positive for
Shiba Inu coin. If some of the whales do sell off, retail is able to buy up and
retail who is willing to hold Shiba Inu coin clearly is indicated by the 200
plus day hold time on coinbase. It could be a huge positive for Shiba Inu coin
moving forward as there’s less impact from those large sellers.
2. Technical
Analysis Warning:
But I do want to talk about some technical analysis that
says Shiba Inu coin could be breaching and falling through that 3000 point per
coin level of support just so that everybody can prepare. So if it sounds like
something you’re interested in, let’s get started. Let’s get started.
3. Investment
Opportunities:
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4. Support Level
Analysis:
Boom. Boom. Like cue the ominous music here. Get some
articles being written. The Chiba inu coin may be falling through support
levels. Now they’re calling it a resistance level, but it’s a support level.
Shiba Inu coin on the verge of losing major resistance levels and it should say
support there it says Shiba Inu coin might lose crucial support levels and drop
down. Shiba Inu coin is on the verge of losing the 3000 point per coin price
threshold. This point has been crucial for Shib as it is struggling to maintain
its position above this threshold. This breakdown will most likely lead to a
crucial price reversal.
5. Potential Price
Movements:
And I agree, if we do lose this support level, which is not
guaranteed, but if Shiba Inu coin does fall through 3000 points per coin, we we
could very easily going back down almost 20% to test that 24 2500 point per
coin level of support that we were testing just a couple of days ago. When we
look at Shib’s price chart, we can see that the price went up sharply not too
long ago. But now that the excitement is less and the price is going down
towards the impact level of 3000 points per coin, if Shib’s price goes under
this level, it might keep going down even more.
6. Market Analysis:
And you know what? Some of these guys, they word these
articles very, very vaguely. Well, it might keep going down. Clearly it might
keep going down, but technical analysis says that’s what it is likely to do. So
it’s actually probable that if Shiba Inu coin breaks down through that support
line, it will go down even further. Now, if it bounces off, beautiful, we might
be on our way back up. Or we will probably be on our way back up to test a
level of resistance as opposed to a level of support.
7. Conclusion and
Investment Strategy:
But anytime these support levels are broken, think of them
like ladder rungs, not ratter lungs. I don’t know what a radder lung is, ladder
rungs. And if you breach one, you got to go down to the next one. If you go to
the upside, if you go to the upside, you got to go up to the next one before
you can make your next step. Support levels, support floors are the exact same
way if you’re going down, and resistance levels are the exact same way if
you’re going up. Technical traders love to test break and immediately go test
the next level of resistance or support, it says. But there’s also a chance
that Shib’s price could go back up. If people start getting interested in Shib
again and buy more of it, the price could rise well above the 3000 point per
coin mark. Exactly. But here’s where we are right now.
8. Outlook and Call
to Action:
Bitcoin is just treading water around $70,000 per coin. And
that’s hard. I mean, think about that $70,000. Last year it was at like
$20,000. If you’re talking about aetherium, Ethereum is trading water run at
3500 point per coin or $3,500 point per coin. Dollar, not points. $3,500 per
coin. On Ethereum, I’m so used to saying Shiba Inu coin says the most likely
reasoning behind this would be general market reversal, which could absolutely
come from the bitcoin having guys. People could get so excited about the
bitcoin halving taking place at the end of April that all of this nonsense
about falling through support levels could be a thing of the past. So
definitely keep that in mind as well. There are major catalysts out there that
could be sending the cryptocurrency market to the upside. What happens next
with Shiba Inu coin will depend a lot on whether more people want to buy or
more people want to sell. Now, I’m not going to scare you with this, but social
media search volume and social media analytics are down greatly on Shiba Inu
coin over the last couple of weeks. Guys, Shiba Inu coin on March 5 spiked at a
level of 100 in terms of search volume on Google, it is back now, back down
now, bouncing back and forth between seven, eight, and nine. That indicates
that over 90% of the search volume has disappeared. People were here for a
price rally and they were here for literally a day. It is absolutely crazy to
see how quickly they fell off. Says the overall mood about the meme coin like
Shiba Inu coin can also make a big difference. In general, the meme coin
industry is getting more strength. However, ethereum based meme coins are not
yet gaining enough traction. Leading chains for meme coins are base and Solana
right now. And you know what? Solana is getting a lot of attention. Meme coins
on Solana are absolutely destroying it. Yes, but shiba Inu coin remains king
guys. Almost 4 million holders. Shiba Inu coin is doing very, very well to
continue growing steadily. Yes, we have to deal with the price fluctuations
along the way. So let me know what you guys think about it down in the
comments. And if that button right there still red, make sure to click it.
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