Shiba Inu (SHIB) Must Hold This Level to Avoid Crashing, Crypto Analyst Says

A popular crypto analyst says that meme asset Dogecoin (DOGE) rival Shiba Inu (SHIB) must hold a certain support level to not come crashing down.

Cryptocurrency prices have been on a wild ride in recent months, with some assets, like Dogecoin (DOGE) and Shiba Inu (SHIB), seeing astronomical gains. Now, a popular crypto analyst is warning that SHIB must hold a certain support level to avoid crashing.

According to the analyst, the $0.0000193-$0.0000215 range is a must-hold for SHIB. A breaking of these levels would be bearish for the dog-themed memecoin.

SHIB is trading for $0.00002255 at time of writing, up 6.5% in the last 24 hours.

The analyst also has some thoughts on BTC, saying that the flagship digital asset must avoid falling below $90,000 to avoid falling even further.

If BTC falls below $88,000, the next major support level lies at $71,000, according to the MVRV Pricing Bands.

Earlier this week, the analyst said that DOGE could surge by quadruple digits percentage-wise for one key reason – that if DOGE follows a historic price pattern, the memecoin could surge to $17.76.

An ascending parallel channel pattern is a bullish structure indicating that an asset is in an uptrend, printing higher highs and higher lows.

DOGE, the Shiba Inu rival, is up 6% in the last 24 hours.