Shiba Inu (SHIB) has recently made significant strides in the market, crossing a notable resistance level of $0.000031 and now eyeing the $0.000034 mark. Its market capitalization has surged from $14 billion to $17 billion in just a short span of 15 days, signaling a strong bullish momentum. However, with such rapid growth, potential investors are left questioning whether it’s wise to enter the market at this price point.
Positive Signs, but Caution is Advised
Technically, Shiba Inu seems to be on an upward trajectory. The price has broken through key resistance levels, which often indicates that the coin could continue to rise. Positive signs in its technical analysis—such as sustained higher highs and increasing trading volumes—suggest that the bull run might not be over just yet. However, it’s important to remember that cryptocurrencies are notoriously volatile, and such rapid gains are often followed by pullbacks.
The Expected Pullback: A Typical Pattern
While Shiba Inu is showing bullish signs, history has taught us that the coin’s community often responds to price hikes with selling pressure. Shiba holders, particularly those who have seen substantial gains, tend to sell around 20-40% of their holdings when the price rises 20-40%. This pattern leads to corrections in the price, creating resistance at higher levels such as $0.0001 USD.
Based on this behavior, it’s reasonable to expect a short-term pullback. The technical analysis suggests that after hitting certain resistance points, the price may retreat, possibly falling to as low as $0.000023 before bouncing back. Some analysts predict that Shiba may even dip to $0.000018 in the coming weeks, offering potential entry points for those who are waiting to buy at a lower level.
The 15-20 Day Window
Over the next 15-20 days, many investors will likely start taking profits, which could lead to a correction. During this period, prices might dip as much as 30-40% from their current highs before the rally continues. This is not unusual in crypto markets, where price swings are common. After this correction, there could be another rally that takes the price back up to the levels we’re seeing now.
Should You Buy Shiba Now?
At the current price level, many seasoned Shiba Inu analysts and holders are advising caution. While the overall trend may be positive in the long term, the current price of Shiba Inu may be due for a correction in the short term. It is not recommended to buy at the current levels, as it could be risky for new buyers.
Waiting for a Better Entry Point
For those looking to enter the market, the ideal strategy might be to wait for a price dip. A potential entry point could be around $0.000022, or even lower at $0.000018. This would allow new buyers to enter at a better price and avoid the risk of buying at a peak.
Conclusion: Patience is Key
While Shiba Inu is undoubtedly experiencing a rally, it’s crucial to recognize the typical market behavior and patterns that come with such movements. New buyers should wait for a potential correction and avoid purchasing at the current high prices. Long-term holders might want to hold onto their investments, but for new buyers, patience could be the best strategy. As always, cryptocurrency investments come with risks, and it’s essential to remain cautious and make informed decisions.
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