SHIB Price Analysis for May 21 50% Gain Ahead
On Wednesday, May 19th, the price of the SHIB token fell, as did the value of most other altcoins. Ahead of the turning point opening the door to growth
Cryptocurrency looks optimistic. Vitalik Buterin dealt with the 410 trillion tokens sent to him by the creators of the cryptocurrency. He burned them, thereby reducing the number of coins in circulation. Many who believe in this altcoin think that it is possible to increase its value.
The token will have to compensate for the recent drop of 60% when its value fell to $0.00000629. Currently, the coin is traded in a parallel channel of the downtrend. However, it is believed that soon the price of the coin will jump to the top edge of the channel, rising by 50%.
SHIB/USDT 4-hour schedule
In the case of a trend reversal and a bullish pulse, the coin can reach $0.00002297. This level corresponds to 38.2% of the Fibonacci.
Actually, there are prerequisites for this. The market is recovering and Buterin has burned the tokens. The coin also played on the popularity of DOGE. However, Dogecoin has the support of Elon Musk and SHIB may also find a patron.
The current price of cryptocurrency can be found on the Huobi exchange. It is the world's largest crypto exchange with profitable trading offers and low commissions.
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