The Shiba inu’s price fluctuated up and down for over three months before stabilizing. However, with SHIB price circling the POC at $0.0000118, experts see a chance for an initial bullish advance. Is now the correct moment to celebrate or even begin for those who pondered if it was profitable to invest in Shiba Inus?
SHIB pricing is still consolidated.
For anyone who had any doubts, Shiba Inu is currently stabilizing near the Volume Control Point (POC) at $0.0000118 and making a strong return. It is entirely feasible for this level to be broken in the near future, taking the price to $0.0000083. However, it is unlikely that the price of SHIB would start an uptrend if it drops below the $0.0000074 support level.
Remember that the barrier at $0.0000118 is no longer a level of support or resistance related to where the price is trading because it is the highest level traded since April 12, 2022.
3 days of a 68 percent increase
After hitting a low of $0.0000071 on June 18, the price of SHIB experienced a spectacular three-day surge of 68 percent. This increase significantly increased the Fair Value Gap (FVG), or spread, which had grown from $0.0000083 to $0.0000092.
The gaps are typically filled when the cryptocurrency experiences a significant average rally. Since that hasn’t happened for the SHIB yet, analysts are very upbeat about the prospect of a gain. Investors and SHIB holders would undoubtedly benefit from such an opportunity. The SHIB price is currently filling the gap that would open on a long swing position, which is what many of them are currently looking for.
Should we anticipate a 1500% increase?
For the time being, analysts anticipate that the POC at $0.0000118 will increase to $0.000019 and then $0.0000211. That would represent a gain for the meme coin of more than 150 percent. Despite the fact that the forecasts are now looking extremely promising, it should be kept in mind that an unwarranted rally over the POC is not completely out of the question. If this were to occur, it would imply that the change was only momentary and that the trend could yet turn around.
A fall will occur if the SHIB displays a daily candlestick close that is less than $0.0000074. The risk of a potential crash would have to be taken into consideration if that were to occur.
Should we make similar investments?
In our perspective, purchasing SHIB at the moment would be a little out of place. It is preferable to wait for it to overcome the upward barrier and stabilize at the level above its current price in order to avoid unpleasant shocks upon arrival. In any event, frequently consult Coinmarketcap to track the development of its trajectory.
