SHIBUSD trade ideas
SHIB to the moon? I don't think so...But it seems to be heading in the right direction. With all the crazy wild projections, it's hard to tell but I'm kinda, sorta bullish. With all the press on the burn portal, Shibverse, new tokens, blah, blah, blah it seems the Shib Army has a lot to cheer about. But hold on there cowboys and girls, the specter of total supply, losses in wallets holding and few other negative tidbits remain obstacles. We are not likely to see anything close to the parabolic rise last year or any terrific moves outside of the general market trends. That said, the lots of names accepting for payment along with several countries buying in, so who knows...
Some technicals to look at, in the middle of the range box as well as under the dvpoc around 28 note : i refuse to type all those zeros lol. Lots of overhead resistance so barring some extreme burn campaign or major market rally this is going to take some time. The MACD and RSI are slowly moving in the right direction. IMHO its going to stay in this range for a while, maybe even the rest of the year. With all the war, inflation, the fiat ponzy scheme, lotsa retailers are going to be putting their money into $KR and I don't mean the stock. Even though i hold a small stash just in case it actually does hit $.01, by definition hodl'er but don't trade it actively, just putting something out there for your amusement
Peace
SHIB greater than 8% bullish target identifiedToday I'm posting not just an individualized idea but an idea that combines multiple coins. As you all know from my recent posts, I expect BTC /ETH to experience a short-term wave down. I worked extra hard tonight to find a basket of coins that could yield us the > 3% per day that I'm going for. These coins follow the momentum trend inversion calculations and target calculations that I've perfected over the years. Some of these coins might not go up as much as a basket, but I expect an easy 3% gain combined within 24hrs.
Here are the coins.
Coin TP-Target %-Allocation
GALA 6.50% 11.29%
UNI 6.60% 8.06%
ENJ 6.60% 6.45%
ACH 15% 11.29%
MATIC 5% 8.06%
SHIB 8% 9.68%
MANA 5% 11.29%
KNC 7% 14.52%
JASMY 12% 14.52%
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7.02 Billion SHIB BurnedAccording to a recently published tweet, over the past 24 hours, more than one billion Shiba Inu meme coins have been moved to "inferno" wallets and out of circulation.
Aside from that, this SHIB-related business has made the commitment not only to burning meme coins but also to help with global SHIB adoption and utilization.
7.021 billion Shiba Inu sent to dead addresses
@shibburn has reported that since last morning, a comprised 7,021,292,580 Shiba Inu have been incinerated, i.e., moved to wallets from which these tokens can be neither withdrawn nor otherwise spent.
It took the various teams and individuals 41 transactions to remove that much SHIB, which is worth $24,296 in fiat.
50% Pump Or Dump?!?When looking at Shiba, we can see that is it currently trading above a key support zone. If we manage to stay above this zone we can expect a nice 50% gain to the next resistance zone in the next few weeks. If it fails I also mapped the next support zone, which is also around a 50% drop. Where do you think it's heading and why?
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This is not financial advice. This is for educational purposes only
Shiba Inu/ USDButterfly Pattern Formation on Shiba Inu:
It starts with a bullish XA move. AB is then Bullish. BC is bearish, and CD is Bullish again.
XA: This can be any price activity on the chart. There is no specific price movement in Butterfly pattern.
AB: The AB move should be 78.6 % Fibonacci of XA.
BC: The BC move should finish between 38.2% and 88.6% Fibonacci of AB.
CD: The CD move will be the final part of the pattern and often extends forming 127%, 161.8% or 224% of AB extension.
The target price of the pattern can be 3 intermediate targets before the final target which are:
Target 1: point B swing.
Target 2: Point X swing.
Target 3: 161.8% of AB.
Target 4: 224% of AB.
Falling Wedge (Contracting or Symmetrical Triangle): When the top resistance is declining and bottom support is raising a contracting or symmetrical triangle is formed. In case of Shiba Inu we are waiting for the breakout of the current pattern.
Disclaimer: “The above is an idea only and not any kind of financial advice so please do your own DD (Due Diligence) before any kind of investment”.
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