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Shiba Inu Price Analysis: What to Expect in the Next Few Days

SHIBA INU: Is SHIB about to PUMP...AGAIN?
SHIBA INU: Is SHIB about to PUMP...AGAIN?

In this video, Nick from GGY Crypto discusses the recent price action and potential trading opportunities for Shiba Inu cryptocurrency. He uses technical analysis to analyze different timeframes and provides insights into market structure and potential price movements.

Nick uses the concept of “smart money” to analyze market structure and institutional player activity. Smart money refers to large investors who are often seen as having an edge in the market. By analyzing their activity, Nick can get a better understanding of the overall direction of the market.

In the case of Shiba Inu, Nick notes that the one-hour timeframe shows a bullish structure with upward movements. This suggests that smart money is currently accumulating the token. However, Elliott Wave Theory suggests that a move downwards might occur before further upward movement. This is because Elliott Wave Theory is a form of technical analysis that predicts future price movements based on the pattern of past price movements.

On the daily timeframe, Nick observes potential resistance levels at $0.000010 and $0.000011. These levels will need to be broken through for Shiba Inu to continue its upward momentum.

Nick also mentions that the 50-weekly EMA is an area of resistance on the weekly timeframe. This is a moving average that smooths out price movements over a period of time. When the price of a cryptocurrency moves above the 50-weekly EMA, it is often seen as a sign of strength.

The video also covers Shiba Inu’s price, market cap, and circulating supply. Nick discusses the potential impact of a new exclusive update and Shibu aerarium (Shibarium) on Shiba Inu’s utility. Shibarium is a layer-2 solution that is designed to reduce gas fees and improve scalability for Shiba Inu.

Nick also mentions that Alpha transform Holdings is advising the foundation behind Shiba Inu. Alpha transform Holdings is a financial services company that specializes in digital assets. Their involvement with Shiba Inu suggests that the project is gaining legitimacy and institutional support.

Finally, Nick encourages viewers to sign up on Bitget and join the upcoming “king’s cup Global Invitational” trading competition. This is a large-scale trading competition with a prize pool of over $1 million.

Conclusion

The video provides a comprehensive overview of the recent price action and potential trading opportunities for Shiba Inu cryptocurrency. Nick’s analysis is based on technical indicators, smart money activity, and upcoming events. He concludes that Shiba Inu is currently in a bullish trend, but that there may be some short-term pullbacks before the next leg up.

Keywords: Shiba Inu, price analysis, technical analysis, smart money, Elliott Wave Theory, resistance levels, utility, upcoming events, Bitget, king’s cup Global Invitational

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