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Cryptocurrency News Articles
Shiba Inu (SHIB) Must Hold This Level to Avoid Crashing, Crypto Analyst Says
Jan 03, 2025 at 06:15 pm
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.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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