Shiba (SHIB) researchers, attention to this news! With the latest analysis, we have compiled the SHIB price analysis targets and comments for you.
Shiba (SHIB), which was released to compete with Dogecoin and became the new coin material for Elon Musk tweets, was among the coins that were eagerly included in the watch list. Many investors want to take positions for SHIB Token. It seems that too many people have started researching this coin. The Shiba SHIB Token is among the newly emerging and recognized cryptocurrency. It is stated that it is a token that can take its place after the great disappointment that started with Dogecoin. SHIB Token saw the highest level of 0.00001837 USDT in the past 24 hours, the lowest being $ 0.00001058.
SHIB, which gained a 120% rise in the first stage, decreased 26% with profit sales at the listing time. Despite this decrease, interest in SHIB, which is described as a new DOGE by investors, is gradually growing.
It Carries a Greater Risk Than Normal!
Binance has also placed a risk alert in its announcement that it is listed in the innovation area. In this warning, it is stated that 50.5% of the SHIB supply is concentrated in just one wallet.
So this situation causes this coin to be much more risky than usual. Because in such cases, it is thought that the price can be pressured by these wallets and put investors in great losses.
In addition, it is stated that there may be speculation as Binance includes SHIB in Margin transactions and a downward position may be opened in the price.
Does Technical Data Point To A New Rise After Shib Takes Over Tron?
With the interest it received, SHIB rapidly gained value in a short time and its market value exceeded $ 11.8 billion, surpassing Justin Sun’s favorite TRX on the Coinmarkcap site, and ranked 18th.
According to the fibonacci correction applied on the 4-hour chart, SHIB is trying to convert the range of $ 0.0000278 – $ 0.0000284 to support, which is an important area of resistance, and is trading at $ 0.0000282 as of the time of publication.
SIHB is expected to try the upper resistance areas in the coming days, with the last 4-hour candlestick closing on this area. Traders buying at these levels can set their stops close to just below this value.
When the hourly chart for SHIB is evaluated, it is seen that it made its first rise with the Elon Musk tweet and then formed a bull flag with the fluctuations in the price.
While a technical rise was expected at the end of this flag, it basically made the expected rise with the general Binance news. SHIB is thought to have created a bull flag again after this rise.
With a new stock market listing, positive news, Musk tweet and the general rise of the market, it is stated that there may be a new FOMO effect on the price. This rise is thought to be as high as the pole that was drawn like the previous flag target. And in this context, the target level is expected to be 0.000046 dollars. However, if the flag breaks down, a stop can be made at the close of two candlestick below $ 0.0000257.