Analyst Alert for SHIB: These 3 Altcoins Could Take Off!

A popular analyst, known for his timely altcoin invites, pointed out several cryptocurrency projects. In particular, he says to be careful with the chest coin Shiba Inu (SHIB). Here are the details…

Altcoin Sherpa warns of SHIB

Cryptocurrency analyst Altcoin Sherpa spoke to his more than 185,000 Twitter followers about the well-known chest coin Shiba Inu (SHIB). The analyst said the Shiba Inu will lose strength even though it fails to break key resistance levels. At this point, he drew attention to the difference in the middle of the price action of Dogecoin (DOGE), the largest chest coin, and SHIB. As we reported, last week, Elon Musk’s acquisition of Twitter has increased the price of DOGE. In fact, DOGE has risen to levels not seen since April. This turned eyes to SHIB, the second largest coin in the chest coin segment. Many expected SHIB to benefit from this momentum as well.

However, according to the analyst, SHIB cannot catch up with the DOGE movement at the moment, it is late. The analyst states that the current 200-day exponential moving average sees a resistance mission in particular. This indicates that it is pulling the price back. He thinks the coin should be accepted above $0.0014 before higher prices. Currently, the price of SHIB is at $0.00001196, down 4.7 percent.

$0.16 critical for DOGE

As for Dogecoin, Altcoin Sherpa says that the coin, which has risen 120 percent in the last seven days, will rise even higher. He argues that cryptocurrencies have more fuel for bullishness. According to the analyst, the next level will be $0.16. At this point, he states that he will not open a long situation or sell short. He even says that in this case, short selling would be “about to get in front of a speeding train.” The analyst uses the following terms:

Wait for the lower level to come. I missed this but would love to see new levels.

Where are the AVAX and INJ claims going?

Third on the trader’s watchlist is Avalanche (AVAX). According to altcoin Sherpa, AVAX could rally appropriately if Bitcoin (BTC) remains stable. Pointing to the possibility of a short or medium-term base in the altcoin, the analyst states that we are witnessing a nice leap again. Looking at the analyst’s chart, Altcoin Sherpa sees AVAX rising unfailingly to its $29.11 target. This indicates an upside potential of about 60 percent from the coin’s current price of $18.22.

The latest cryptocurrency on the investor’s radar is the decentralized platform Injective (INJ). Altcoin Sherpa thinks INJ is poised to finally hit a heavy resistance level. According to the analyst, $2.20 shows strength as a supply region in INJ. However, he believes the coin will go to $2.40 in the medium term.

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