SHIBA INU Could Reach $0.01-$0.05 in October if Weekly Gains Continue
With SHIBA INU showing weekly upward momentum, there is growing speculation that the cryptocurrency could reach the $0.01 to $0.05 range by October. After reviewing the current market chart and analyzing the indicators, there are potential signs of growth that could align with these projections. In addition to these technical factors, external political influences, such as Donald Trump's election campaign, are also worth considering. Investors are curious whether SHIBA INU could even surge to $1 if Trump wins the U.S. elections, and how such political outcomes may affect the overall crypto market, including Bitcoin.
Current Chart Analysis
Analyzing SHIBA INU’s weekly chart reveals some positive indications that the price may rise further:
Current Price Movement: SHIBA INU is trading around $0.00001438, showing a recent 1.91% increase. This is a positive sign for short-term growth, and if momentum continues, the $0.01-$0.05 range is a plausible target by October.
Moving Averages (MA): The 7-day moving average (MA(7)) and the 25-day moving average (MA(25)) are relatively close, showing price stability in the short term. A strong upward shift in the moving averages could push SHIBA INU towards the $0.01-$0.05 range.
Relative Strength Index (RSI): The RSI is currently at 44.6, indicating neutral market conditions. This suggests that SHIBA INU has room to move upward, without facing the immediate threat of a significant sell-off.
MACD (Moving Average Convergence Divergence): Although the MACD is currently showing slight bearishness, it remains a flexible indicator that could quickly shift, especially if there are positive external market triggers.
Based on these chart indicators, it’s possible that SHIBA INU could climb to the $0.01-$0.05 range in October, particularly if the upward momentum continues and key market conditions align.
Will SHIBA INU Reach $1 if Trump Wins?
Speculation is growing about how a potential Trump victory in the U.S. elections could impact the cryptocurrency market. Some believe that his win could trigger increased interest in decentralized assets, including SHIBA INU. If Trump's campaign succeeds, and with growing speculation around cryptocurrencies, SHIBA INU may see a boost in its price.
There is also increasing speculation about the unusual political dynamics between Donald Trump and Joe Biden, with Kamala Harris seen as a strategic "wild card." If these political forces influence market sentiment, they could also play a role in driving Bitcoin’s price lower, potentially to $73,000, as both leaders may have hidden strategies affecting the crypto space. In such a scenario, SHIBA INU’s price could rise significantly, even reaching $1 under the right conditions.
Bitcoin’s Potential Fall to $34,000 and Its Impact on SHIBA INU
While there is optimism for SHIBA INU’s rise, one crucial aspect to consider is the potential for Bitcoin to crash in November. If the political landscape in the U.S. remains unstable, particularly leading up to the election results, Bitcoin could face downward pressure, potentially falling to the $34,000 level or even lower.
Such a drop in Bitcoin’s price would likely cause a ripple effect throughout the entire crypto market. SHIBA INU could experience volatility, and while it might still reach the $0.01-$0.05 range in October, a market crash in November could pull it back down. The possibility of a Bitcoin crash underscores the importance of closely monitoring market conditions in the lead-up to November.
Investor Strategy: Hold or Sell?
For investors, the best course of action is to observe SHIBA INU’s performance closely. If it crosses the $0.05 mark in October, this could indicate strong bullish momentum, and further gains may follow. However, if Bitcoin’s price starts to drop towards the $34,000 level in November, a broader market crash could be on the horizon, potentially affecting SHIBA INU as well. In this case, selling might become a safer option to avoid potential losses.
SUMMARY
While SHIBA INU has the potential to reach the $0.01-$0.05 range by October, investors must be cautious of a possible Bitcoin crash in November that could drive the market downward. Political factors, including Trump’s election campaign, may influence both SHIBA INU and the broader crypto market. With careful observation, investors can decide whether to hold or sell based on SHIBA INU’s performance leading up to October, as well as the overall market conditions, particularly if Bitcoin approaches the $34,000 level.
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