In recent weeks, Shiba Inu price hit a new all time high(ATH) of 0.00008854 on 10-28-2018 with over a woofing +1000% returns. Giving Shiba Inu access to the upper echelon as one of the top most popular cryptocurrency coin in the crypto community.
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The current CoinMarketCap ranking is #9, with a live market cap of $39,769,982,814 USD. It has a circulating supply of 549,095,509,738,353 SHIB coins and the max. Total supply is not available according to coinmarketcap.
Does this mean that You should invest into Shiba Inu coin now or are you too late for the moon ride? Lets find out together as I share with you my current opinion base on the current price action of the shiba inu binance chart.
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What is Shiba Inu Coin?
Shiba Inu (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular memecoin. Unlike Bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with a total supply of one quadrillion. What is the storyline behind the memecoin?
Once upon a time, there was a very special dog. That dog was a shiba inu, and this dog inspired millions of people around the world to invest money into tokens with the dog’s image on it.
Shiba Inu Price Could retest the Last Visited resistance at 0.0000868
Shiba coin could likely rally again back to the last resistance it encountered around 0.0000868 – 0.00008854 resistance area. But this is likely to be a slow choppy move as the current area is likely to experience some sideways movement / consolidation of price. The inner box of the chart above has a weak resistance area that will cause the prolong consolidation of few weeks or more.
The chance of the move up to continue remains high as long as the buyers are able to keep price above 0.00005 to 0.00004654. This gives the buyers the opportunity to hold down the current white uptrend line the have successfully touched only ones(buy pressure is strong after 2nd touch of the buyers trending trendline). This area seems to have good money force power to withstand sell pressure so it is very likely we see a bounce around this area.
When the buyers successfully hold down the 0.00005 support could lead to a rally to 0.00007798 – 0.00008 weaker inner resistance Area(this will easily be broken).
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What is The Best Price Area To Buy Shiba Inu Coin?
I am very open minded when it comes to how volatility might change everything in crypto. We should not ignore the sellers capabilities even though we know that the chance of the move upward continue, The chances are also high that the current pullback is not over.
If the sellers succeed in breaking below shiba uni current support of 0.00005 – 0.00004654 support are, I do see Shiba coin dropping lower to 0.00002 – 0.0000198 next support area, this is only possible if the sellers manage to push shiba inu price below the current support area0.00005. This only means that the best buy will be around 0.00002 .(remember this is only incase of worst case scenario.
Shiba Inu Price Target for Take Profit
To cash out good on this coin will need good patience. The target I do see no matter what option above place out is that Shiba has high chances of experiencing more bullish run in the next 3 moths to 0.00012.
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The best $SHIBA analysis. Thanks for this, your the best