#BSCTrades #BSCUserExxperinces Before commenting on Shiba Inu’s real potential beyond speculative targets, the analyst examines the state of Bitcoin. He points out that Bitcoin is under downward pressure with the potential for further decline.

This, coupled with rising #bitcoin dominance, could hurt altcoins like SHIB, as they typically lose value when Bitcoin falls, especially during periods of high dominance. This means potential losses for Shiba Inu holders as the market reacts to Bitcoin’s fluctuations. 

On a more technical level, the analyst identifies the formation of a double-top pattern on SHIB’s weekly chart, a bearish signal. After $SHIB reached a December 2024 high of $0.00003279, it failed to break above crucial resistance and retraced to the $0.00001296 support.

The analyst suggests that SHIB could dip to $0.0000067 if the price falls below this key support level of $0.00001296. Indeed, Shiba Inu has lost the $0.00001296 support and has since dipped to $0.00001095, coming close to adding a zero to its value.

Meanwhile, the analyst makes it clear that, personally, he would never invest in Shiba Inu. Despite its adoption, he believes SHIB remains a “meme coin” with little to no real utility.

Instead, the analyst suggests looking for low-cap coins with higher growth potential. For those still interested in trading SHIB, he recommends exiting positions below the $0.00001296 price point to minimize risk.

Currently, Shiba Inu is trading at $0.00001237, down 13% over the last 30 days. Its year-to-date performance is even worse, showing a massive 40% loss.

So, trade wisely!