SHIBUSDT (Shiba Inu) - Coin of the Week
Shiba Inu coin was developed under the pseudonym "Ryoshi" in August 2020. The charming attractiveness of the meme currency, combined with articles and Tweets from celebrities like Elon Musk and Vitalik Buterin, drew in a community of investors, quickly increasing its speed and value. Shiba Inu aimed to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm.
Technically, Shiba Inu created a new low on the 12th of June. After that we saw a move to the upside that was sharp and then a very deep retracement. Now the price is consolidating for the next move up. We give a higher probability for the price going higher than falling to retest the low, although we should not exclude that option either.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, Shiba Inu created a new low on the 12th of June. After that we saw a move to the upside that was sharp and then a very deep retracement. Now the price is consolidating for the next move up. We give a higher probability for the price going higher than falling to retest the low, although we should not exclude that option either.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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