SHIB/USD apparently attracted a healthy amount of speculative fuel the past ten days and reached a solid short term high on the 26^th of June.

SHIB/USD hit a high of approximately 0.00001209 on the 26^th of June as speculative buying drove the cryptocurrency upwards. On the 18^th of June SHIB/USD was near a depth of 0.00000715. The ability of Shiba Inu to deliver fast results upwards obviously tantalized speculators the past week and half of trading. However, the move higher for SHIB/USD still could prove to be short lived. As of this writing SHIB/USD has sunk to a depth of nearly 0.00000985.

The broad cryptocurrency market is displaying signs of nervousness, and many of the major digital assets have tumbled in value early this morning. After being able to achieve higher prices a few days ago many of the bigger cryptocurrencies began to see incremental selling, and late last night downwards price velocity got quicker, including SHIB/USD.

The momentary rays of upwards sunshine were likely enjoyed by speculative bulls that were able to cash out profits at the short term highs a few days ago.  However, SHIB/USD like the broad cryptocurrency market remains locked in a long term bearish trend and the purely speculative nature of Shiba Inu makes it an interesting barometer of behavioral sentiment. If the broad cryptocurrency market is about to return to another wave of powerful selling, there are plenty of reasons to believe SHIB/USD will not escape this fate.

If SHIB/USD breaks below the 0.00000929 level, another swift round of selling could be ignited. Sellers who want to participate in SHIB/USD need to use entry price orders so their fills meet expectations. Traders also need to use stop loss protection, particularly if they are using leverage which is absurd. Speculators who believe targeting lower depths for SHIB/USD cannot be faulted, and if the 0.00000900 is proven vulnerable and the broad cryptocurrency market grows volatile, SHIB/USD will certainly follow in these footsteps.

Selling SHIB/USD appears to be a worthwhile bet near term. Wagering on SHIB/USD should be done with caution. However, if selling conditions are sparked with large and fast volumes among the major cryptocurrencies again, there is reason to suspect support levels for SHIB/USD will continue to produce vulnerability and lower values for this purely speculative cryptocurrency which depends on behavioral sentiment to maintain its status.

Shiba Inu Coin Short-Term Outlook

Current Resistance: 0.00001028

Current Support: 0.00000929

High Target: 0.00001111

Low Target: 0.00000788

The “meme coin trade” has been taken out back and shot.

The Shiba Inu coin has rallied about 3% during the training session on Thursday as we continue to see the market try to lift itself up off of its back. Because of this, it is possible that we see a little bit of momentum to the outside, but the 50 Day EMA sits just above, and it does suggest that there could be a bit of dynamic resistance. With that in mind, the next bullish sign would be to see Shiba Inu break above the 50 Day EMA on a daily close, allowing for the market to clear a technical barrier.

On Tuesday, we had seen a huge push higher in this ecosystem, so it does make a certain amount of sense that we would see an attempt to do a bit of follow-through here. That being said, the market is more likely than not going to continue to be bullish, because quite frankly the rest of the crypto markets are negative. Shiba Inu has no real use case scenario at the moment, and as a result, this “meme coin” will probably go the way of the dodo given enough time. Yes, I understand there is the Shiba Army out there, but the Army is getting smaller, and quite frankly hasn’t won a battle in a while.

The 200 EMA is near the 0.00002000 area, so therefore I think that at best you would see a pop to that area. After all, if Bitcoin is struggling to find buyers, then Shiba Inu most certainly will as well. This market continues to move to the downside, seeming ready to test the zero level. Whether or not Shiba Inu even exists in another year is a whole different question, but right now I just don’t see how this thing takes. We would need to see massive risk appetite returned to the crypto market, as well as the rest of the world. The market continues to be one that I would avoid, right along with the rest of crypto. Quite frankly, the smaller coins are in the process of disappearing, and at this point, it’s unknown as to which ones actually will survive. The next year is going to be very crucial for these markets, so pay close attention. The “meme coin trade” has been taken out back and shot.

SHIB/USD is traversing in a very tight consolidated range as it continues to trade in fractional cents, this while speculative zeal surrounding Shiba Inu seemingly erodes.

SHIB/USD remains stuck in a rather tight consolidated mode as it tries to recapture its speculative zeal which made it a favorite of the cryptocurrency trading world in the past.  The long term bearish trend has not only cut SHIB/USD value by a stunning percentage over the past months, but its ability to attract wagers on upside momentum has also seemingly come to a grinding halt. Yes, there may still be plenty of folks dreaming of a large pay day from Shiba Inu if it ever lurches to sudden new apex highs, but for now SHIB/USD appears to be sleeping.

Perhaps as SHIB/USD slumbers comfortably and trades within its fractionally consolidated price range, some traders are taking advantage of its micro moves with large wagers and finding the potential to gain from its value changes. However, not only has the long term bearish market put a damper on speculative betting on SHIB/USD, but the fall of LUNA/USD and TerraUSD may have sparked a fear of the number zero.

SHIB/USD has no utilitarian purpose and the recent trading history of LUNA/USD has been a lesson perhaps for speculative cryptocurrency traders. The ability of LUNA/USD to crash from over 100.0000 per token in early April to a value which is now factored in fractional cents and has seen its trading stopped on many of the major cryptocurrency exchanges is a definite warning sign. This doesn’t mean the same will happen for SHIB/USD, it simply points out that trading in cryptocurrencies remains not only speculative and sometimes dangerous, but that unknown drama can develop without road signs. Apparently prices can literally go to zero.

If the broad cryptocurrency market remains nervous and trading volumes remain low in Shiba Inu, there is a reason to suspect SHIB/USD will sink lower. The current value of approximately 0.00001160 has been in a consolidated stance and traders wagering on price changes need to use entry points, take profit and stop loss ratios to get in and out of trades.

SHIB/USD is a speculative cryptocurrency at best. Traders who are still tempted to swim its waters need to understand its fractional trading landscape. Small wagers could potentially turn into large percentage winnings if the correct direction is chosen with Shiba Inu. However, if SHIB/USD was to go in the wrong direction and a lot of leverage is used, results can be costly for poorly chosen bets. In the short term, SHIB/USD continues to look like it may incrementally trade lower.

Shiba Inu Coin Short Term Outlook

Current Resistance: 0.00001189

Current Support: 0.00001149

High Target: 0.00001243

Low Target: 0.00001008

SHIB/USD has delivered a rather middle of the road trading experience for short term speculators the past week of trading, but the consolidation is likely to end.

SHIB/USD has taken on a rather cautious consolidated mode the past week as the value of Shiba Inu traverses the middle of its short term price range. The highly speculative cryptocurrency which is a favorite of traders who seek volatility, has been rather quiet with its results the past few days, and while this has allowed speculators to use targeted quick hitting price action, it may have some traders feeling rather suspicious.

The broad cryptocurrency market has mirrored the results in SHIB/USD the past week in some respects. SHIB/USD did see a low of nearly 0.00002362 on the 18th of April and then a reversal higher to about 0.00002590 only two days later. These results and the slight headwinds which have followed the past day of trading in SHIB/USD have also correlated to the broader crypto market.

Choppy trading has been seen in SHIB/USD, and traders are encouraged to consider momentum in order to take advantage of developing short term trends under the present conditions. Nervous sentiment is likely building among certain speculators who are monitoring key support levels in SHIB/USD and wonder if a ‘return’ to bearish price action will mount. However, the recent trading of SHIB/USD and the broad cryptocurrency marketplace may also spark the interest of bullish speculators who believe the recent downturn experienced the past week of trading has produced oversold results.

SHIB/USD is a purely speculative cryptocurrency and it is a rather intriguing barometer of market sentiment. The recent consolidation which has taken place the past few days of trading as Shiba Inu trades in a fractional manner is not likely to last. Volatility may be ready to be exhibited sooner rather than later within SHIB/USD. Traders are urged to use specific entry price orders to ignite their positions so their ‘fills’ meet their expectations.

Buyers cannot be blamed for the belief that if current support levels prove durable, that long positions may prove to be worthwhile if they are initiated on slight moves downward, which carry the expectation of higher reversals. If SHIB/USD is able to maintain a price above the 0.00002500 juncture it may be a signal additional upside will be demonstrated in the near term. Traders are reminded SHIB/USD can move fast and that leverage needs to be carefully considered because incremental changes in value of Shiba Inu can produce astonishing results – both bad and good – depending on the outcome of wagering on this volatile cryptocurrency.

Shiba Inu Coin Short Term Outlook:

Current Resistance: 0.00002548

Current Support: 0.00002460

High Target: 0.00002630

Low Target: 0.00002353