Wednesday, May 29, 2024
HomeCryptocurrencyTop Trader Shares Simple Shiba Inu (SHIB) Profit-Taking Plan with Price Targets

Top Trader Shares Simple Shiba Inu (SHIB) Profit-Taking Plan with Price Targets

Shiba Inu (SHIB) has staged a significant comeback in recent weeks, recovering from a brutal market downturn. SHIB is trading at $0.00002526, up 13.8% over the past week. This uptick nearly erases the losses incurred during the broader market correction of late March and early April.

Capitalizing on this bullish momentum, crypto analyst Prof Noan (@CryptoNoan) has outlined a strategic framework for SHIB investors. Noan emphasizes the importance of risk management and focuses on identifying profit-taking targets that allow investors to secure gains while minimizing potential losses if the market takes a bearish turn.

Read Also: How Whales’ Profit-Taking Triggered Shiba Inu (SHIB) and Dogecoin (DOGE) 22% Crash

Profit-Taking Targets for Shiba Inu Investors

Prof Noan’s analysis highlights four key price points that SHIB holders can utilize to make informed trading decisions. Shiba Inu is currently in the buy zone, and this is the best chance for investors to get in to benefit from Noan’s predictions.

Entry Point: For those who missed the opportunity to buy SHIB at its lowest point ($0.00001853), Noan suggests the current price range (around $0.000027) presents a favorable buying opportunity.

Conservative Target: Risk-averse investors seeking a quick profit can target a 4.37% gain by exiting their positions at $0.00002818.

Moderate Target: Investors with a slightly higher risk tolerance can aim for a 21.51% return by holding until SHIB reaches $0.00003281. This target is close to the $0.000031 target that analysts identified recently.

Aggressive Target: For the most confident investors, Noan suggests holding SHIB until it approaches the $0.00004 threshold (around $0.00003903). This target represents a potential gain of nearly 44%, bringing SHIB close to its 2024 high achieved in early March.

While Noan acknowledges SHIB’s potential for continued growth, he emphasizes that these profit targets prioritize risk management. By strategically exiting positions at predetermined points, investors can lock in profits and mitigate potential losses in case of a market reversal.

Read Also: Cardano (ADA) and XRP Are Goldmine for Crypto Bull Market, Says Crypto Capital Venture Founder

<

Exit Strategy in Case of a Downturn

Noan also identifies a potentially bearish scenario where SHIB investors might consider exiting the market. If the price retraces to around $0.00002244, Noan recommends closing SHIB positions and closely monitoring the token’s price movement before re-entering the market.

The Shiba Inu community is excited about the post-Bitcoin halving surges. With major developments and massive support from the community, SHIB could reach Noan’s targets and potentially surpass them.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles