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Shiba Inu Is 84% Below ATH, Is It Time To Buy $SHIB At Discount? #discountmarket
SHIB Shiba inu the meme games
At its current price of $0.000014, the $8.26 billion market cap Shiba Inu ($SHIB) token, the second largest in the sector, is still 84% short of an all-time high of $0.00008616, posted on October 28, 2021.
#SHIB،
That’s a little odd when you consider that $SHIB back then was just another Dogecoin ($DOGE) rival.
#DogecoinCommunity
Fast forward to today and Shiba Inu houses privacy features and its own proprietary Layer 2 on its home chain Ethereum, called Shibarium, which is cultivating a community of developers and users.
Relative to Dogecoin, Shiba Inu posted heavier overnight losses of about 2% compared with $DOGE’s 1% loss. Over the week, Shiba Inu shed about 4% whereas Dogecoin shed 9%. Clearly, Shiba Inu is behaving like a typical volatile multi-billion dollar meme coin.
However, to better understand the extent of Shiba Inu’s recent performance, we can see that in the early hours UTC of July 16 this year, the token hit $0.00001998 but was unable to catch and hold the psychologically important $0.00002 threshold.
A market-wide crash on August 5 effectively halved the price less than a month later, as $SHIB headed perilously close to $0.00001 before rebounding to its current level around $0.000014.#CryptoMarketMoves
A stable relative strength index (RSI) of 45 indicates there’s a chance the token could recapture $0.000016 shortly as traders buy the dip.
However, if the number of token burns remains low as it has this week, Shiba Inu could face further devaluation.
SHIB Shiba inu the meme games
At its current price of $0.000014, the $8.26 billion market cap Shiba Inu ($SHIB) token, the second largest in the sector, is still 84% short of an all-time high of $0.00008616, posted on October 28, 2021.
#SHIB،
That’s a little odd when you consider that $SHIB back then was just another Dogecoin ($DOGE) rival.
#DogecoinCommunity
Fast forward to today and Shiba Inu houses privacy features and its own proprietary Layer 2 on its home chain Ethereum, called Shibarium, which is cultivating a community of developers and users.
Relative to Dogecoin, Shiba Inu posted heavier overnight losses of about 2% compared with $DOGE’s 1% loss. Over the week, Shiba Inu shed about 4% whereas Dogecoin shed 9%. Clearly, Shiba Inu is behaving like a typical volatile multi-billion dollar meme coin.
However, to better understand the extent of Shiba Inu’s recent performance, we can see that in the early hours UTC of July 16 this year, the token hit $0.00001998 but was unable to catch and hold the psychologically important $0.00002 threshold.
A market-wide crash on August 5 effectively halved the price less than a month later, as $SHIB headed perilously close to $0.00001 before rebounding to its current level around $0.000014.#CryptoMarketMoves
A stable relative strength index (RSI) of 45 indicates there’s a chance the token could recapture $0.000016 shortly as traders buy the dip.
However, if the number of token burns remains low as it has this week, Shiba Inu could face further devaluation.
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OFFER!!!!!
If you have liquidity do this:
Are you buying more? Or are you scared to see the market in red for fear that it will continue to fall and you don't buy?
The fall of the market is healthy to continue the upward path. Without corrections the market enters into imbalance and that always ends up balancing. Price likes balance.
Hence:
If you bought higher, the price drop is a good time to buy more and average the purchase price of your tokens.
And if you haven't bought yet, it's time.
That is why it is important to always have liquidity to be able to take advantage of these discount moments that the market gives us.
#buythedip
#crypto
#discountmarket
If you have liquidity do this:
Are you buying more? Or are you scared to see the market in red for fear that it will continue to fall and you don't buy?
The fall of the market is healthy to continue the upward path. Without corrections the market enters into imbalance and that always ends up balancing. Price likes balance.
Hence:
If you bought higher, the price drop is a good time to buy more and average the purchase price of your tokens.
And if you haven't bought yet, it's time.
That is why it is important to always have liquidity to be able to take advantage of these discount moments that the market gives us.
#buythedip
#crypto
#discountmarket