Key Insights into Shiba Inu (SHIB) by Leading Crypto Strategist, Micheal van de Poppe
Top crypto strategist and experienced trader, Michael van de Poppe, has recently conveyed an optimistic perspective about Shiba Inu (SHIB), offering insights into the potential opportunities that lie ahead. His analysis presents the crucial support and resistance levels that traders need to watch out for.
Performance of Shiba Inu in the Crypto Market
Shiba Inu’s revolutionary results in the world of digital currencies have garnered the interest of revered traders and proficient technical analysts. Following a recent evaluation, the top technical analysis expert has hinted at the likelihood of an oncoming growth trend for the SHIB, citing a set of associated circumstances.
Micheal van de Poppe’s Expectations for SHIB
- Van de Poppe suggests that if SHIB manages to maintain certain support levels, it is apt to continue its upward trajectory. This asset has demonstrated an upward trend in recent weeks, bringing substantial profits to its holders.
- The behavioral analysis platform, Santiment, has spotlighted this exhilarating development. As per their most recent status, SHIB outperformed other highly capped assets by recording a substantial double-digit percentage improvement within a week, while Bitcoin and others faced a decline.
- Despite reaching a recent peak of $0.00001136 on August 12, the animal-themed crypto token experienced a steep fall to $0.00000996 on August 14.
- The downturn was short-lived, however, and by the following Monday, Shiba Inu experienced a fortuitous recovery due to investors’ enormous buying pressure.
- Observing these recent price activities, Poppe speculates about another phase of growth for SHIB coming up in the ensuing weeks or even months.
Picture Source: https://twitter.com/CryptoMichNL/status/1691431293341384704?
Could the Value of SHIB Surge by More than 27%?
- Van de Poppe, also the CEO and founder of MN Trading, states that Shiba Inu has the potential to cross the $0.000013 price point.
- Given the current exchange rate of $0.00001022 per SHIB token, this projected price would mark an increase of more than 27%.
What Will Influence SHIB’s Value Growth?
- For achieving this significant uptick, Van de Poppe mentions that SHIB will have to resist falling below a few critical support levels—the three supporter levels outlined by him being $0.00000808, $0.00000870, and $0.00000941.
- His analysis suggests that if SHIB can manage to remain above these prices, it is likely to maintain its existing growth trend.
- Conversely, Van de Poppe warns that the token could start losing value if it ends up falling lower than the lowest support.
- With the imminent launch of Shibarium, many experts are further predicting a possible rally for SHIB.