Crypto chartist CryptoAmsterdam recently advised Shiba Inu (SHIB) investors to view every price dip as a strategic opportunity to increase their holdings.
In an update shared yesterday, CryptoAmsterdam reaffirmed the previous forecast from September 30, which identified the appearance of a “Stage 4” structure on Shiba Inu’s higher time frames—a formation suggesting the possibility of a sustained upward trend.
According to CryptoAmsterdam, Shiba Inu’s chart has since shown a “mini-cycle structure,” a pattern that initially pushed the asset towards a “macro range high.” However, despite this momentum, the chartist cautioned investors to monitor for key signals before committing to any major positions.
Specifically, they advised looking for either a break above the corrective mini-range level of $0.25 or a potential false breakout that would validate the move’s strength.
SHIB’s Price Momentum and Analyst’s Updated Insights
Since issuing the initial analysis in late September, Shiba Inu has displayed significant upward momentum, climbing to a 7-month peak of $0.00003024 by early November.
In response, CryptoAmsterdam revised its assessment of SHIB, pointing out that the token has now completed its mini-cycle structure. This completion, marked by recent price increases, reinforces their expectation of continued gains.
CryptoAmsterdam underscored their perspective on dips, urging investors to use short-term price declines as opportunities to accumulate SHIB in anticipation of further upward movement. The updated analysis suggests that short-term corrections may benefit long-term holders, aligning with CryptoAmsterdam’s “dips are for buying” perspective.
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Shiba Inu’s Performance and Market Standing
November has brought considerable gains for Shiba Inu and several other digital assets, with the month dubbed “GrowVember” by Shiba Inu’s lead developer, Shytoshi Kusama. The token’s performance has been impressive across various timeframes: it has risen 51.60% over the past week and 53.75% over the past month.
Shiba Inu’s recent rally brought its price to a 7-month high of $0.00003024 earlier today, although it has since stabilized at approximately $0.00002681.
Following these price gains, Shiba Inu initially climbed into the top 10 cryptocurrencies by market capitalization earlier today, surpassing Avalanche (AVAX). However, as of press time, the token now holds the 11th position with a market valuation of $15.79 billion.
This ranking milestone further highlights SHIB’s impact and growing influence within the crypto space, as investors and analysts increasingly monitor its performance.
Outlook for Shiba Inu (SHIB)
The impressive rally in November has prompted speculation regarding SHIB’s long-term potential. Crypto expert Oscar Ramos recently predicted that Shiba Inu’s market cap could eventually climb to $100 billion.
If this projection materializes, the token’s price could reach an estimated $0.0001697, representing substantial growth from current levels.
While CryptoAmsterdam’s analysis suggests favorable conditions for Shiba Inu, it also emphasizes the importance of strategic buying during dips and vigilance regarding price signals.
For now, SHIB’s rise has reaffirmed the analyst’s belief in its growth potential, with the token’s short-term corrections representing valuable opportunities for committed investors.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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