Down 85% From Its All-Time High, Should You Buy Shiba Inu Now? Why This Analyst Says ‘No’ And Where To Invest 🥇🥇 Instead#shiba⚡
The Shiba Inu (SHIB) cryptocurrency
that gained traction as a pet-based meme coin though has some large downfalls. This has made a lot of the investors feel lamentable since the coin has reduced by an impressive 85% from the last highest value of $0.00008864. Some crypto observers are even asking: should I buy now SHIB? Or is the search for the next gem more productive? As one technical analyst sums it up nicely and succinctly — “No” — and offers an interesting replacement: Rexas Finance (RXS).
SHIB’s Price Struggles: Why It May Not Be the Best Buy Right Now
After touching the highest price ever recorded since inception, the price of Shiba Inu has been on a downward trend with the last known figure being pegged at $0.00001390. The next vital support is situated at $0.000008473 which suggests a further drop in price level for SHIB before any stability sets in. This isn’t good for all those potential buyers wishing to enter the market at a low price level as the analyst forecasts something worse than this. He suggests that the Shiba Inu price is likely to collapse even more and may reach $0.000007828 which is a 40% downside from this level.It is pretty difficult to dismiss all the lure behind SHIB’s meme culture and its well-known enthusiastic fanbase, however, the ultimate purpose of the token is up for speculation. SHIB’s argument for its sound fundamentals is primarily based on projections of hype which as we have seen can be short-lived. If you want to invest in something useful that has prospects of appreciation, this is not the right time to join the SHIB stampede.But where should you put your investment if SHIB is not the move? The answer is in a promising new entry in the market: Rexas Finance (RXS).
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