Bomb Claim For Shiba Coin: Get Ready For These Levels!

Shiba Coin price continues to lose scale since the explosive rally on August 14. In fact, the current downtrend has only one target. This includes rebalancing the inefficiency created at the end of June. Making this goal a reality is valuable because it has the potential to be the key to triggering an exponential move for SHIB. If such a move does occur, it is possible that the Shiba Inu will witness a rally of over 90%. Read on for crypto analyst Akash Grimath’s analysis.

“The bearish trend ends for Shiba Coin”

The Shiba Inu price formed a second equal high at $0.0000179 on Aug. 14 after rebounding 42%. The rally thus faced extinction eventually. As a result, SHIB entered a downtrend that continues even now. Since August 14, Shiba Coin has lost 46% of its value and is currently trading around $0.0000102. But SHIB is on the verge of going down to fill the Fair Value Gap (FVG).

At this point, investors should expect a small recovery from $0.0000083 to $0.0000093. This recovery price has the potential to rally to $0.0000109. The move is likely to retest the Point of Control (POC) at $0.00000081. This is the highest process volume level since May 2021. Interested investors can start their SHIB savings at the above-mentioned levels. Here, a reversal will depend on the market conditions, especially the Bitcoin rally.

“SHIB price may witness over 90% rally”

If the BTC price rises and triggers a rally for Shiba Coin, investors can expect a massive upswing. Such a bounce would push SHIB price to sweep the even higher highs of $0.0000179. If this happens, the chest coin will increase his total benefit in the rally to 93%. Therefore, it is useful for investors to follow the chest token strictly. The Shiba Inu currently provides an adequate risk-reward ratio.

Shiba Coin risks falling below the POC at $000081. If that happens, it will mean a bear-dominated market and reduce the likelihood of an upside rally. However, the bullish thesis will be invalidated if there is a drop below $0.0000074. If such a development occurs, the chest coin price will risk visiting the $0.0000060 anchor level.

“Shiba Inu adoption continues to increase”

Although the price of Shiba Coin has fallen in the last period, the coin continues to have a large following. While the community continues to burn SHIB, on the other hand, they are enjoying the recently released Shiba Eternity game. The token, whose adoption has increased, came to the fore with an attack by Elon Musk. As we have reported, Elon Musk has recently released a perfume called “Burnt Hair”. Accordingly, perfume can be purchased with SHIB payment.

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