2024-10-22 13:30:10 by NewsBTC

Rising as one of the best-performing meme coins, Shiba Inu (SHIB) keeps making headlines in the crypto scene. The meme coin has jumped by over 30% during the past month, drawing both retail and analytical interest. Some analysts think SHIB may soon overcome a major resistance level with a community-driven rally bringing its market capitalization over $11 billion, therefore enabling even further gains. This thrill is driven mostly by a prediction from a pseudonymous analyst called FOUR. Fueled by what he describes as a “hyper meme coin cycle,” FOUR claims Shiba Inu is poised to hit new peaks. FOUR projects that a break above the $0.00002169 resistance level could send the price skyrocketing to $0.00003260, so indicating a possible 71% increase from SHIB, which is currently trading at $0.00001912. $SHIB is Marching towards $0.00003260 price very soon than you expect ⚡ Memes super cycle is just started #Shib #MemeSeason #MemeSupercycle pic.twitter.com/8QXXiE7odd — FOUR | Crypto Spaces (@X_Four_iv) October 19, 2024 Shiba Inu: Major Resistance Level At $0.00002169 For traders and experts, the resistance level of $0.00002169 now takes front stage. Previously tested during a late September rush, this pricing point was rejected. But SHIB’s present increasing momentum has rekindled hope that this barrier will soon be broken. Analysts contend that if SHIB surpasses this level, it could set off a quick price rise motivated by ongoing support from its large population. FOUR’s research fits this perspective. He points to the recent weekly candle close, implying that SHIB is getting closer to conquering its present obstacles. Shiba Inu might rapidly experience a notable increase in value if the resistance is overcome since the positive momentum has been growing. SHIB price action in the last week. Source: CoinbaseRetail Investors Promoting The Rally One may mostly credit Shiba Inu’s rise on the retail investor level. Data from CoinMarketCap shows that nearly 90% of SHIB holders are small investors holding anything from $0 to $1,000. The popularity of the coin has been driven by this grassroots support, hence increasing its resilience to changes in the market. The continuous rally can be attributed to retail investors believing in SHIB’s future for additional expansion. This is #SHIB analytics from #Coinmarketcap . The blue colors are owned by retail with $0-$1K bag holders . Almost 10% of holders have $1k-$100K bag value and only .20% have 100K and above SHIB Bag . These belongs to exchange . This is a perfect narrative why SHIB should be an… pic.twitter.com/i7x8D49tUn — Lola (@CryptoLollla) October 20, 2024 Still, it’s interesting to note that nearly a quarter of the meme coin’s holders had assets valued more than $100,000. Though rare, this group is important in the ecosystem and might perhaps include liquidity providers and exchanges. SHIB market cap currently at $10.7 billion. Chart: TradingView.comPositive Viewpoint In Spite Of Volatility Though Shiba Inu has a history of instability, some market analysts see a bright future for it. The community-driven support of the currency along with the larger meme coin cycle might drive SHIB higher in the next coming weeks. FOUR’s estimate of a 71% increase depends on breaking important barriers. Investors will be closely observing to see if Shiba Inu can sustain its increasing pace and remove obstacles in its path. Featured image from Katerina_Brusnika//Getty Images, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.