For complete beginners... 🤔
$SHIB, or Shiba Inu, is known as the “Dogecoin killer” but it’s more than just a meme coin. It has become a symbol of the growth of cryptocurrencies with a huge community following. Now you ask: Should I be bullish or bearish and invest in it?
The answer is simple:
$SHIB It relies on its huge community, partnerships, and continuous development. Despite its high volatility, it shows strong growth potential thanks to its strategic plans (Shibarium, etc.). But do your own research! Read on for more.
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#News 🗞
1. Shibarium Launch: The second layer of Shibarium was launched to improve scalability and reduce fees, which enhanced the utility of SHIB.
2. Global Acceptance: Several companies and platforms have started accepting SHIB as a payment method, which increases its market value.
3. Token Burning: Continuous token burning initiatives help reduce supply and increase value in the long run.
4. Expanding into the Metaverse: SHIB plans to enter the Metaverse, which will enhance its real-world uses.
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#Market_Status 🏛
Market value: around $6.5 billion.
Recent Rise: Driven by Shibarium launch and increased institutional demand.
Current price:
NIB/USD
$0.00000912
+3.85%
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#Market_Dynamics 📊
1. Strong Community: SHIB is backed by the ShibArmy who strongly support it on social media.
2. Token Burning: Reducing supply over time supports the price in the long run.
3. Launching new projects: From Shibarium to ShibaSwap, there is a constant expansion in the ecosystem.
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1. Global Adoption: As SHIB becomes more accepted in trading systems, it shows strong potential for growth.
2. Institutional expansion: More companies are entering to adopt SHIB as a payment method.
3. Economic Fluctuations: As people look for financial alternatives, cryptocurrencies like SHIB are gaining momentum.
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#Chart_Analysis 📉
1. Uptrend: SHIB/USD is showing signs of an upward breakout from the sideways channel pattern.
2. Major Support: $0.00000750 represents a strong support level, with resistance at $0.00001050.
3. Bullish patterns:
Double Bottom Pattern: Indicates a potential rally towards $0.00001200 levels.
Positive RSI: Shows that the currency is not in the overbought zone yet.
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Conclusion 📃
In the short term ⏰
SHIB may test the $0.00001100 level if positive updates and more burns continue.
Long term ⏳
If Shibarium succeeds and SHIB becomes a major component of the metaverse, it could reach $0.0001 or more by 2025.
finally...
$SHIB It's not just a meme coin; it's a project full of ambitious plans. Although it's risky, it has huge potential. As always, the market is volatile, so invest with caution.
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Disclaimer: This is not financial advice. Do your own research before investing.
