🔥 According to AMBCrypto: $SHIB Analysis
In the last 30 days, Bitcoin’s price has increased while SHIB registered a 5.72% decrease. However, the performance of the memecoin could be in its favor.
In recent articles, we reported that capital from BTC might start flowing into altcoins. Should this be the case, SHIB’s declining correlation could deviate from Bitcoin’s potential bearish trend.
If this is the situation, what heights can the token reach? On the daily timeframe, the Exponential Moving Average (EMA) showed a bullish trend for SHIB in the long term.
At press time, the 50 EMA (blue) had crossed over the 200 EMA (yellow) and the token’s price was a lot higher than both EMAs. With this position, the price of the token might not fall below $0.000010 this cycle.
Instead, the Fibonacci indicator suggested that SHIB might tap $0.00013 at the height of the bull market. This means that the price still has the potential to surge higher than a 200% increase.
In the short term, SHIB’s price might revisit $0.000030 according to indications from the Money Flow Index (MFI). As of this writing, the MFI was close to 60.00, indicating that a great amount of capital was flowing into the token.
