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SHIB’s Price Momentum and Analyst’s Updated Views
Shiba Inu Performance and Market Status
Appearance for Shiba Inu (SHIB)
Crypto analyst CryptoAmsterdam recently advised Shiba Inu (SHIB) investors to view every price drop as a strategic opportunity to increase their holdings.
In an update shared yesterday, CryptoAmsterdam reaffirmed the previous prediction from September 30 that Shiba Inu had a “Phase 4” structure emerging on higher timeframes, suggesting the possibility of a sustained bullish trend.
According to CryptoAmsterdam, Shiba Inu’s chart has since shown a “mini-cycle structure,” a pattern that initially pushed the asset toward the “macro range high.” However, despite this momentum, the chartist warned traders to monitor key signals before entering any large positions.
In particular, they recommended watching for a break above the $0.25 corrective mini-range level or a potential false breakout that would confirm the strength of the move.
SHIB’s Price Momentum and Analyst’s Updated Views
Shiba Inu has shown significant upward momentum since the initial analysis was published in late September, reaching a 7-month high of $0.00003024 in early November.
CryptoAmsterdam, in response, revised its assessment of SHIB, stating that the token has now completed its mini-cycle structure. This completion, marked by recent price gains, reinforces expectations for continued gains.
CryptoAmsterdam emphasized its bearish outlook, urging investors to use short-term price declines as opportunities to accumulate SHIB in anticipation of further upside. The updated analysis suggests that short-term corrections could benefit long-term holders and is in line with CryptoAmsterdam’s “dips are for buying” outlook.
Shiba Inu Performance and Market Status
November brought significant gains for Shiba Inu and several other digital assets, with the month being dubbed “GrowVember” by Shiba Inu’s lead developer, Shytoshi Kusama. The token’s performance has been impressive across multiple time frames: it’s up 51.60% in the past week and 53.75% in the past month.
Shiba Inu’s recent rally took its price to a 7-month high of $0.00003024 earlier today, but it has since settled at around $0.00002681.
Following these price increases, Shiba Inu broke into the top 10 cryptocurrencies by market capitalization earlier today, surpassing Avalanche (AVAX). However, as of press time, the token sits in 11th place with a market valuation of $15.79 billion.
This ranking milestone further highlights SHIB’s impact and growing influence in the crypto space as investors and analysts increasingly track its performance.
Appearance for Shiba Inu (SHIB)
The impressive recovery in November has led to speculation about SHIB’s long-term potential, with crypto expert Oscar Ramos recently predicting that the Shiba Inu’s market value could eventually reach $100 billion.
If this prediction comes true, the token’s price is estimated to reach $0.0001697, which would mean significant growth from current levels.
CryptoAmsterdam’s analysis suggests that there are positive conditions for Shiba Inu, while highlighting the importance of strategic buying during downturns and being attentive to price signals.
For now, SHIB’s rally has reaffirmed analysts’ faith in its growth potential, with the token’s short-term corrections presenting valuable opportunities for determined investors.
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