SHIBA INUShort
Scam or not?
I know this won't sit well with the Shib Army, but here goes anyway.
I found this symmetrical triangle pattern that's backed up with volume. It appears to be breaking bearish and the measured move would bring it down to worthless.
To further backup this chart, I believe the problems with Shibarium are and will be the catalyst of this move. Shibarium had 400 million compute units of bandwidth/month and crashed in about an hour. If they've scaled up 1500%, then Shibarium can only run for 15 hours before having the same problem. This is extremely bearish because there is no room for growth and the blockchain can't support the current number of users so the amount of users needs to come down.
I believe we will see persistent problems with Shibarium that will have users lose interest and leave; and discourage new users from using the new blockchain. As of posting this, people's tokens are still stuck on the Shibarium bridge, and the blockchain is running in "private mode."
Not financial advise! Entertainment purposes only!
I found this symmetrical triangle pattern that's backed up with volume. It appears to be breaking bearish and the measured move would bring it down to worthless.
To further backup this chart, I believe the problems with Shibarium are and will be the catalyst of this move. Shibarium had 400 million compute units of bandwidth/month and crashed in about an hour. If they've scaled up 1500%, then Shibarium can only run for 15 hours before having the same problem. This is extremely bearish because there is no room for growth and the blockchain can't support the current number of users so the amount of users needs to come down.
I believe we will see persistent problems with Shibarium that will have users lose interest and leave; and discourage new users from using the new blockchain. As of posting this, people's tokens are still stuck on the Shibarium bridge, and the blockchain is running in "private mode."
Not financial advise! Entertainment purposes only!
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