Crypto analyst Altcoin Sherpa shared insights on Shiba Inu (SHIB) and dogwifhat (WIF) tokens, addressing market challenges and opportunities. The analyst highlighted SHIB’s recent hack and suggested potential buying ranges amid the uncertainty.
Additionally, Altcoin Sherpa provided key price levels for WIF, emphasizing the importance of the $2.50 threshold. These observations come as both tokens see price movements, with SHIB facing a decline and WIF showing strong gains.
Shiba Inu Faces Hack Fallout
Altcoin Sherpa addressed the recent hack affecting Shiba Inu, expressing hope for preventive measures against token selling. The analyst stated,
“real shame w. the hack, hope they figure out some way to prevent the selling somewhere.” This comment highlights the community’s concern over potential market impacts.
Despite the current uncertainty, Altcoin Sherpa suggested a potential buying opportunity for SHIB. The analyst recommended considering entries within the “old trading range of 700-1200” if sell-offs occur. This advice provides investors with a strategic approach amid market volatility.
According to CoinGecko data, SHIB trades at $0.00001742. The token has had a 9.98% dip over the last day but showed a 4.77% rise over the past week. This price action reflects the market’s reaction to recent events.
Next Big Airdrop?
Notcoin airdrop on Telegram made millions to people. Don’t miss out on the next TG airdrop by the same team – Dogs on Ton!
Show more +Show less –
Read also: Have Ripple vs. SEC Settlement Rumors Fueled XRP Price Pump?
WIF Price Analysis
Turning attention to dogwifhat (WIF), Altcoin Sherpa highlighted the significance of the $2.50 level.
The analyst suggests that if WIF’s price falls below this threshold, it may enter a trading range between $2.40 and $3.00. This observation highlights the potential volatility within this price bracket.
$WIF I think this current area is pretty important but if we break $2.50, we're going to see price go back within the trading range between 2.40-$3.00. It's pretty hard to see what the levels are in that area but I think this goes higher as long as btc plays nice pic.twitter.com/OMpRafLz4X
— Altcoin Sherpa (@AltcoinSherpa) July 18, 2024
CoinGecko data reveals WIF’s price at $2.44, with a substantial 13.11% increase in 24 hours. The token also boasts a 46.07% gain over the past week. These figures demonstrate WIF’s strong performance in the current market.
Bitcoin’s Influence on WIF
Altcoin Sherpa emphasized Bitcoin’s role in WIF’s trajectory, stating, “I think this goes higher as long as btc plays nice.” This comment highlights the interconnectedness of crypto markets and Bitcoin’s influence on altcoin performance.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Expert Identifies SHIB Buying Zone Post-Hack; WIF Meme Coin Tests Crucial $2.50 Level Amid Bitcoin Influence appeared first on CaptainAltcoin.